Truist Financial Cuts Equity LifeStyle Properties (NYSE:ELS) Price Target to $65.00

Equity LifeStyle Properties (NYSE:ELS) had its price objective lowered by Truist Financial from $72.00 to $65.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

ELS has been the subject of a number of other reports. Royal Bank of Canada reissued a sector perform rating and issued a $70.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft started coverage on Equity LifeStyle Properties in a report on Tuesday, January 30th. They issued a hold rating and a $64.00 price objective for the company. Barclays cut their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an overweight rating for the company in a research report on Friday, April 26th. Finally, Wolfe Research upgraded Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 target price for the company in a research report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Equity LifeStyle Properties currently has a consensus rating of Hold and a consensus price target of $68.85.

Equity LifeStyle Properties Stock Performance

ELS stock traded up $0.17 on Thursday, reaching $63.33. The company’s stock had a trading volume of 1,451,517 shares, compared to its average volume of 1,537,669. Equity LifeStyle Properties has a 52 week low of $59.82 and a 52 week high of $74.04. The company has a market capitalization of $11.81 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 3.73 and a beta of 0.70. The firm has a fifty day moving average of $63.91 and a two-hundred day moving average of $66.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties Announces Dividend

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 paid a $0.477 dividend. This represents a $1.91 dividend on an annualized basis 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 (DPR) is presently 104.37%.

Hedge Funds Weigh In On Equity LifeStyle Properties

Hedge funds have recently modified their holdings of the stock. Retirement Systems of Alabama increased its stake in shares of Equity LifeStyle Properties by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 233,448 shares of the real estate investment trust’s stock worth $16,467,000 after acquiring an additional 863 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new position in Equity LifeStyle Properties during the fourth quarter worth $956,000. Arizona State Retirement System boosted its holdings in Equity LifeStyle Properties by 0.8% during the fourth quarter. Arizona State Retirement System now owns 48,637 shares of the real estate investment trust’s stock valued at $3,431,000 after acquiring an additional 375 shares during the period. State of Michigan Retirement System boosted its holdings in Equity LifeStyle Properties by 0.4% during the fourth quarter. State of Michigan Retirement System now owns 44,700 shares of the real estate investment trust’s stock valued at $3,153,000 after acquiring an additional 200 shares during the period. Finally, Duality Advisers LP bought a new stake in Equity LifeStyle Properties during the third quarter valued at about $384,000. 97.21% of the stock is owned by institutional investors and hedge funds.

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.