Equity Lifestyle Properties (NYSE:ELS) Receives Neutral Rating from Mizuho

Mizuho reissued their neutral rating on shares of Equity Lifestyle Properties (NYSE:ELS) in a research report report published on Monday morning, Marketbeat reports. The firm currently has a $65.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $72.00.

ELS has been the subject of several other research reports. Odeon Capital Group set a $65.00 price target on Equity Lifestyle Properties in a report on Thursday, July 9th. Barclays set a $69.00 target price on Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Weiss Ratings lowered Equity Lifestyle Properties from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Wells Fargo & Company lowered their price target on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Finally, Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.88.

Equity Lifestyle Properties Stock Performance

ELS opened at $60.53 on Monday. The firm has a market capitalization of $11.75 billion, a PE ratio of 29.10, a PEG ratio of 3.52 and a beta of 0.64. Equity Lifestyle Properties has a twelve month low of $58.72 and a twelve month high of $69.00. The firm’s 50-day moving average price is $64.04 and its 200 day moving average price is $63.95. 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 data on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.22). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The business had revenue of $397.81 million during the quarter, compared to analyst estimates of $383.66 million. During the same quarter in the previous year, the company posted $0.69 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Equity Lifestyle Properties will post 3.2 EPS for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be paid a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties’s dividend 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. Parkside Financial Bank & Trust lifted its stake in Equity Lifestyle Properties by 126.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 415 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 232 shares in the last quarter. Clearstead Trust LLC grew its position in Equity Lifestyle Properties by 74.8% in the 4th quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 231 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Equity Lifestyle Properties in the 2nd quarter valued at about $37,000. Osterweis Capital Management Inc. purchased a new stake in Equity Lifestyle Properties during the second quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC increased its stake in Equity Lifestyle Properties by 67.3% during the first quarter. EverSource Wealth Advisors LLC now owns 726 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 292 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns, operates and manages residential communities and resort properties across the United States. Its portfolio primarily consists of manufactured home communities, recreational vehicle (RV) resorts and campgrounds.

The company provides long-term homesites for manufactured housing residents, as well as seasonal and transient accommodations for RV owners and vacationers. Its properties generally offer amenities and services such as clubhouses, swimming pools, recreational facilities, community events and utility connections.