Equity LifeStyle Properties (NYSE:ELS) Given New $65.00 Price Target at Truist Financial

Equity LifeStyle Properties (NYSE:ELS) had its target price reduced by Truist Financial from $72.00 to $65.00 in a report released on Thursday morning, Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the stock. Wolfe Research raised shares of Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 target price on the stock in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They issued a hold rating and a $64.00 target price for the company. Barclays dropped their price target on Equity LifeStyle Properties from $78.00 to $72.00 and set an overweight rating on the stock in a research report on Friday, April 26th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and issued a $70.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $68.85.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock opened at $63.33 on Thursday. The firm has a market capitalization of $11.81 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 3.73 and a beta of 0.70. The stock has a fifty day moving average of $63.91 and a 200 day moving average of $66.94. Equity LifeStyle Properties has a 52 week low of $59.82 and a 52 week high of $74.04. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33.

Equity LifeStyle Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

Institutional Trading of Equity LifeStyle Properties

Institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in shares of Equity LifeStyle Properties by 5.1% during the third quarter. Commonwealth Equity Services LLC now owns 4,172 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 204 shares during the last quarter. Xponance Inc. boosted its stake in Equity LifeStyle Properties by 130.1% during the 3rd quarter. Xponance Inc. now owns 28,672 shares of the real estate investment trust’s stock valued at $1,827,000 after purchasing an additional 16,209 shares during the last quarter. Stonegate Investment Group LLC increased its holdings in shares of Equity LifeStyle Properties by 3.8% in the 3rd quarter. Stonegate Investment Group LLC now owns 8,824 shares of the real estate investment trust’s stock worth $562,000 after purchasing an additional 322 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Equity LifeStyle Properties by 87.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,925,036 shares of the real estate investment trust’s stock worth $122,644,000 after purchasing an additional 896,361 shares in the last quarter. Finally, Telemus Capital LLC raised its stake in shares of Equity LifeStyle Properties by 9.5% in the third quarter. Telemus Capital LLC now owns 18,024 shares of the real estate investment trust’s stock worth $1,148,000 after purchasing an additional 1,559 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

About Equity LifeStyle Properties

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.