TheStreet lowered shares of Equity Lifestyle Properties (NYSE:ELS) from a b- rating to a c+ rating in a report released on Tuesday morning.
ELS has been the subject of a number of other reports. Zacks Investment Research raised shares of Equity Lifestyle Properties from a hold rating to a buy rating and set a $98.00 target price for the company in a research report on Thursday, September 21st. BMO Capital Markets reissued a hold rating and set a $95.00 target price on shares of Equity Lifestyle Properties in a research report on Tuesday, January 9th. Evercore ISI raised shares of Equity Lifestyle Properties from an underperform rating to an in-line rating in a research report on Monday, December 4th. Citigroup increased their target price on shares of Equity Lifestyle Properties from $86.00 to $88.00 and gave the company a neutral rating in a research report on Thursday, October 19th. Finally, Robert W. Baird set a $90.00 target price on shares of Equity Lifestyle Properties and gave the company a neutral rating in a research report on Friday, January 5th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Equity Lifestyle Properties currently has an average rating of Hold and an average price target of $89.00.
Equity Lifestyle Properties (NYSE ELS) traded up $0.77 during trading hours on Tuesday, reaching $85.37. 306,544 shares of the company’s stock traded hands, compared to its average volume of 356,431. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market cap of $7,482.81, a price-to-earnings ratio of 40.85, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. Equity Lifestyle Properties has a 52-week low of $72.25 and a 52-week high of $91.94.
Equity Lifestyle Properties (NYSE:ELS) last released its earnings results on Monday, October 16th. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.34). Equity Lifestyle Properties had a net margin of 22.52% and a return on equity of 21.07%. The company had revenue of $241.63 million for the quarter, compared to the consensus estimate of $226.85 million. During the same period in the prior year, the company earned $0.83 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. analysts expect that Equity Lifestyle Properties will post 3.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were given a dividend of $0.488 per share. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.49. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, December 28th. Equity Lifestyle Properties’s dividend payout ratio is currently 93.30%.
In related news, Vice Chairman Howard Walker sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $88.74, for a total value of $106,488.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marguerite M. Nader sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $88.30, for a total transaction of $1,103,750.00. Following the completion of the transaction, the insider now directly owns 97,868 shares of the company’s stock, valued at $8,641,744.40. The disclosure for this sale can be found here. Insiders have sold a total of 21,475 shares of company stock valued at $1,894,283 over the last three months. Insiders own 6.10% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Laurion Capital Management LP boosted its holdings in Equity Lifestyle Properties by 3.2% in the 2nd quarter. Laurion Capital Management LP now owns 3,200 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 100 shares during the period. Advisor Group Inc. boosted its holdings in Equity Lifestyle Properties by 9.2% in the 2nd quarter. Advisor Group Inc. now owns 1,489 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 125 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Equity Lifestyle Properties by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,577 shares of the real estate investment trust’s stock worth $222,000 after buying an additional 178 shares during the period. Thrivent Financial For Lutherans boosted its holdings in Equity Lifestyle Properties by 0.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 68,418 shares of the real estate investment trust’s stock worth $5,907,000 after buying an additional 280 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in Equity Lifestyle Properties by 1.0% in the 2nd quarter. Lazard Asset Management LLC now owns 38,085 shares of the real estate investment trust’s stock worth $3,288,000 after buying an additional 370 shares during the period. 97.86% of the stock is owned by institutional investors.
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About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (properties) consisting primarily of manufactured home (MH) communities and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations and Home Sales and Rentals Operations.
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