Equity LifeStyle Properties (NYSE:ELS) Price Target Cut to $72.00 by Analysts at Barclays

Equity LifeStyle Properties (NYSE:ELS) had its price objective cut by Barclays from $78.00 to $72.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

ELS has been the topic of several other research reports. Royal Bank of Canada reiterated a sector perform rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Truist Financial dropped their price objective on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating on the stock in a report on Wednesday, January 24th. Wolfe Research upgraded 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 report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Equity LifeStyle Properties in a report on Tuesday, January 30th. They issued a hold rating and a $64.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Equity LifeStyle Properties currently has a consensus rating of Hold and a consensus price target of $69.55.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $60.52 on Friday. The firm’s 50-day moving average price is $64.41 and its 200-day moving average price is $67.06. Equity LifeStyle Properties has a 1-year low of $60.47 and a 1-year high of $74.04. The firm has a market capitalization of $11.29 billion, a P/E ratio of 33.07, a P/E/G ratio of 4.00 and a beta of 0.69. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a dividend of $0.477 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.91 annualized dividend and a dividend yield of 3.15%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. bought a new position in shares of Equity LifeStyle Properties during the 1st quarter valued at $406,000. New York State Teachers Retirement System grew its holdings in Equity LifeStyle Properties by 1.0% in the 1st quarter. New York State Teachers Retirement System now owns 135,168 shares of the real estate investment trust’s stock worth $8,705,000 after acquiring an additional 1,400 shares during the last quarter. Carmel Capital Partners LLC grew its holdings in Equity LifeStyle Properties by 14.1% in the 1st quarter. Carmel Capital Partners LLC now owns 5,302 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 656 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Equity LifeStyle Properties by 0.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,334 shares of the real estate investment trust’s stock worth $4,401,000 after acquiring an additional 456 shares during the last quarter. Finally, Seven Post Investment Office LP grew its holdings in Equity LifeStyle Properties by 0.6% in the 1st quarter. Seven Post Investment Office LP now owns 184,684 shares of the real estate investment trust’s stock worth $11,894,000 after acquiring an additional 1,164 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

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.