Equity Lifestyle Properties (NYSE:ELS) Stock Lifted to “Strong-Buy” by Jefferies Financial Group

Jefferies Financial Group upgraded shares of Equity Lifestyle Properties (NYSE:ELS) to a strong-buy rating in a research report report published on Monday morning,Zacks reports.

Several other equities analysts have also recently issued reports on ELS. Barclays set a $69.00 price target on shares of Equity Lifestyle Properties and gave the company an “equal weight” rating in a research report on Monday, August 17th. Weiss Ratings downgraded shares of Equity Lifestyle Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, September 8th. Truist Financial set a $64.00 price target on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a report on Friday, September 11th. Evercore set a $68.00 price objective on shares of Equity Lifestyle Properties in a research note on Monday, September 21st. Finally, UBS Group reduced their price objective on shares of Equity Lifestyle Properties from $76.00 to $67.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Equity Lifestyle Properties presently has an average rating of “Hold” and an average target price of $68.02.

Equity Lifestyle Properties Price Performance

Equity Lifestyle Properties stock opened at $59.17 on Monday. The stock has a 50-day moving average price of $62.04 and a two-hundred day moving average price of $63.13. Equity Lifestyle Properties has a 12 month low of $57.46 and a 12 month high of $69.00. The company has a market capitalization of $11.48 billion, a PE ratio of 28.45, a P/E/G ratio of 3.50 and a beta of 0.63. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.22). The firm had revenue of $397.81 million for the quarter, compared to the consensus estimate of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. Analysts expect that Equity Lifestyle Properties will post 3.20 EPS for the current year.

Equity Lifestyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were given a $0.5425 dividend. The ex-dividend date was Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.7%. Equity Lifestyle Properties’s payout ratio is 104.33%.

Institutional Investors Weigh In On Equity Lifestyle Properties

A number of institutional investors have recently modified their holdings of ELS. Versant Capital Management Inc bought a new stake in shares of Equity Lifestyle Properties during the 3rd quarter valued at about $26,000. Parkside Financial Bank & Trust increased its holdings in 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 worth $27,000 after purchasing an additional 232 shares in the last quarter. Clearstead Trust LLC bought a new stake in Equity Lifestyle Properties in the second quarter worth approximately $33,000. CX Institutional increased its holdings in Equity Lifestyle Properties by 1,288.6% in the third quarter. CX Institutional now owns 611 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 567 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Equity Lifestyle Properties in the second quarter valued at approximately $37,000. 97.21% of the stock is owned by institutional investors.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns and operates manufactured home communities, recreational vehicle resorts and marinas. Its properties provide residential sites for manufactured homes and park model homes, as well as vacation-oriented accommodations and facilities for RV owners and boaters.

The company serves a range of residents and travelers through long-term manufactured housing communities, seasonal and transient RV resorts, and marina properties.