Equity LifeStyle Properties (NYSE:ELS) Hits New 52-Week High at $75.89

Equity LifeStyle Properties, Inc. (NYSE:ELS)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $75.89 and last traded at $75.64, with a volume of 14608 shares changing hands. The stock had previously closed at $75.23.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Evercore ISI upped their target price on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Truist Financial increased their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Equity LifeStyle Properties has a consensus rating of “Hold” and a consensus price target of $68.88.

Equity LifeStyle Properties Trading Up 1.1 %

The company’s fifty day moving average price is $69.61 and its two-hundred day moving average price is $65.68. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The firm has a market cap of $14.19 billion, a P/E ratio of 41.10, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The firm had revenue of $380.00 million during the quarter, compared to the consensus estimate of $334.53 million. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.4775 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.51%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Insiders Place Their Bets

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Equity LifeStyle Properties

A number of hedge funds have recently added to or reduced their stakes in ELS. Vanguard Group Inc. boosted its stake in shares of Equity LifeStyle Properties by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock valued at $1,614,469,000 after purchasing an additional 240,853 shares during the last quarter. Norges Bank bought a new position in shares of Equity LifeStyle Properties in the 4th quarter valued at about $455,623,000. Victory Capital Management Inc. boosted its stake in shares of Equity LifeStyle Properties by 7.8% in the 2nd quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock valued at $300,237,000 after purchasing an additional 331,945 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Equity LifeStyle Properties by 5.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock valued at $209,630,000 after purchasing an additional 153,715 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Equity LifeStyle Properties by 4.2% in the 1st quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock valued at $183,035,000 after purchasing an additional 113,891 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Company Profile

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.