Equity Lifestyle Properties (NYSE:ELS) Price Target Raised to $69.00

Equity Lifestyle Properties (NYSE:ELS) had its price target raised by Truist Financial from $66.00 to $69.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

A number of other research firms have also weighed in on ELS. Zacks Research lowered Equity Lifestyle Properties from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Evercore decreased their price objective on Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating for the company in a research note on Thursday, October 23rd. Bank of America raised Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Tuesday, February 3rd. Wells Fargo & Company reduced their target price on shares of Equity Lifestyle Properties from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Equity Lifestyle Properties in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.27.

Equity Lifestyle Properties Trading Up 0.6%

NYSE:ELS opened at $67.52 on Wednesday. Equity Lifestyle Properties has a one year low of $58.15 and a one year high of $70.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.05 and a current ratio of 0.04. The firm has a market cap of $13.09 billion, a P/E ratio of 33.59, a P/E/G ratio of 3.73 and a beta of 0.76. The firm has a 50-day simple moving average of $63.12 and a 200-day simple moving average of $61.92.

Equity Lifestyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.5425 per share. The ex-dividend date is Friday, March 27th. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.2%. Equity Lifestyle Properties’s payout ratio is presently 102.49%.

Hedge Funds Weigh In On Equity Lifestyle Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC increased its stake in Equity Lifestyle Properties by 14.1% during the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock valued at $435,000 after purchasing an additional 804 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Equity Lifestyle Properties by 598.5% during the first quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock valued at $7,964,000 after buying an additional 102,303 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Equity Lifestyle Properties by 62.3% during the first quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust’s stock valued at $1,542,000 after buying an additional 8,873 shares during the last quarter. IFP Advisors Inc increased its position in shares of Equity Lifestyle Properties by 874.7% in the 2nd quarter. IFP Advisors Inc now owns 848 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 761 shares during the period. Finally, CWM LLC raised its stake in Equity Lifestyle Properties by 485.2% in the 2nd quarter. CWM LLC now owns 18,778 shares of the real estate investment trust’s stock worth $1,158,000 after acquiring an additional 15,569 shares during the last quarter. 97.21% of the stock is 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.