Analysts Set Equity Lifestyle Properties, Inc. (NYSE:ELS) Price Target at $70.50

Equity Lifestyle Properties, Inc. (NYSE:ELS) has been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $70.50.

ELS has been the subject of a number of research analyst reports. Wall Street Zen upgraded Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Evercore ISI decreased their price objective on shares of Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating for the company in a research report on Thursday, October 23rd. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research report on Monday, October 20th. Royal Bank Of Canada upgraded shares of Equity Lifestyle Properties from an “underperform” rating to an “outperform” rating and upped their price target for the company from $66.00 to $70.00 in a research note on Monday, December 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Equity Lifestyle Properties from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th.

Equity Lifestyle Properties Trading Down 1.4%

NYSE:ELS opened at $59.78 on Monday. The stock has a market capitalization of $11.59 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 3.18 and a beta of 0.77. Equity Lifestyle Properties has a 52 week low of $58.15 and a 52 week high of $70.35. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $61.62 and a 200 day moving average of $61.34.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $393.31 million during the quarter, compared to analyst estimates of $389.39 million. Equity Lifestyle Properties had a return on equity of 20.99% and a net margin of 24.97%.The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. As a group, sell-side analysts anticipate that Equity Lifestyle Properties will post 3.07 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 26th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.06 dividend on an annualized basis and a yield of 3.4%. Equity Lifestyle Properties’s payout ratio is currently 103.52%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. boosted its position in Equity Lifestyle Properties by 2.5% in the first quarter. Raymond James Financial Inc. now owns 104,033 shares of the real estate investment trust’s stock valued at $6,939,000 after buying an additional 2,508 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Equity Lifestyle Properties by 29.5% in the 1st quarter. Wellington Management Group LLP now owns 15,604 shares of the real estate investment trust’s stock valued at $1,041,000 after acquiring an additional 3,550 shares during the last quarter. Walleye Capital LLC increased its stake in shares of Equity Lifestyle Properties by 58.1% in the first quarter. Walleye Capital LLC now owns 14,035 shares of the real estate investment trust’s stock worth $936,000 after acquiring an additional 5,155 shares during the period. Ieq Capital LLC purchased a new position in shares of Equity Lifestyle Properties during the first quarter worth $309,000. Finally, Vident Advisory LLC lifted its position in Equity Lifestyle Properties by 3.6% during the first quarter. Vident Advisory LLC now owns 23,606 shares of the real estate investment trust’s stock valued at $1,575,000 after purchasing an additional 824 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

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.