Brokerages Set Equity Lifestyle Properties, Inc. (NYSE:ELS) Target Price at $68.52

Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) have earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $68.5179.

A number of analysts have recently commented on the company. Odeon Capital Group set a $65.00 target price on Equity Lifestyle Properties in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 14th. Wells Fargo & Company lowered their price objective on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Morgan Stanley reaffirmed a “mixed” rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Finally, Barclays set a $69.00 price objective on Equity Lifestyle Properties and gave the company an “equal weight” rating in a research note on Monday, August 17th.

Hedge Funds Weigh In On Equity Lifestyle Properties

A number of large investors have recently bought and sold shares of ELS. Parkside Financial Bank & Trust boosted its stake in shares of Equity Lifestyle Properties by 126.8% in the second quarter. Parkside Financial Bank & Trust now owns 415 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 232 shares in the last quarter. Corient Private Wealth LP grew its stake in shares of Equity Lifestyle Properties by 25.4% during the 2nd quarter. Corient Private Wealth LP now owns 39,760 shares of the real estate investment trust’s stock worth $2,563,000 after purchasing an additional 8,052 shares during the period. Amundi grew its stake in shares of Equity Lifestyle Properties by 4.9% during the 2nd quarter. Amundi now owns 158,240 shares of the real estate investment trust’s stock worth $10,199,000 after purchasing an additional 7,388 shares during the period. Groupe la Francaise increased its holdings in shares of Equity Lifestyle Properties by 3.3% in the 2nd quarter. Groupe la Francaise now owns 9,113 shares of the real estate investment trust’s stock valued at $587,000 after purchasing an additional 290 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Equity Lifestyle Properties in the second quarter valued at about $17,778,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Equity Lifestyle Properties Price Performance

Equity Lifestyle Properties stock opened at $62.37 on Friday. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $64.81 and a 200-day simple moving average of $64.43. The stock has a market cap of $12.10 billion, a P/E ratio of 29.99, a price-to-earnings-growth ratio of 3.64 and a beta of 0.64. Equity Lifestyle Properties has a 12-month low of $58.72 and a 12-month high of $69.00.

Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The business had revenue of $397.81 million during the quarter, compared to analysts’ expectations of $383.66 million. During the same period last year, the company earned $0.69 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts expect that Equity Lifestyle Properties will post 3.2 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio is 104.33%.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.