Barclays Cuts Equity Lifestyle Properties (NYSE:ELS) Price Target to $68.00

Equity Lifestyle Properties (NYSE:ELS) had its target price decreased by Barclays from $71.00 to $68.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the company. Mizuho assumed coverage on Equity Lifestyle Properties in a report on Tuesday, March 31st. They issued an “outperform” rating and a $72.00 target price on the stock. Truist Financial set a $67.00 price target on Equity Lifestyle Properties and gave the company a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Zelman & Associates began coverage on Equity Lifestyle Properties in a research note on Monday, March 16th. They issued an “underperform” rating and a $59.25 price target for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Equity Lifestyle Properties in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Equity Lifestyle Properties has a consensus rating of “Moderate Buy” and a consensus target price of $69.27.

Equity Lifestyle Properties Trading Down 0.5%

Shares of ELS stock opened at $63.10 on Monday. The stock’s fifty day moving average price is $64.54 and its two-hundred day moving average price is $63.47. The company has a market cap of $12.24 billion, a PE ratio of 31.55, a P/E/G ratio of 3.86 and a beta of 0.69. Equity Lifestyle Properties has a fifty-two week low of $58.15 and a fifty-two week high of $69.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.04 and a current ratio of 0.04.

Equity Lifestyle Properties (NYSE:ELS) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.28). The business had revenue of $397.62 million during the quarter, compared to analyst estimates of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 EPS. Equities analysts predict that Equity Lifestyle Properties will post 3.18 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, June 26th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 108.50%.

Insider Transactions at Equity Lifestyle Properties

In related news, Director David J. Contis sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total transaction of $201,660.00. Following the completion of the transaction, the director directly owned 14,890 shares of the company’s stock, valued at $1,000,905.80. This trade represents a 16.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Equity Lifestyle Properties by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust’s stock worth $1,544,190,000 after purchasing an additional 592,013 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Equity Lifestyle Properties by 303.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock worth $966,648,000 after acquiring an additional 11,999,874 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of Equity Lifestyle Properties by 26.8% in the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock worth $643,331,000 after acquiring an additional 2,246,622 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Equity Lifestyle Properties by 32.5% in the 3rd quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock worth $414,194,000 after acquiring an additional 1,674,281 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Equity Lifestyle Properties by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 6,435,365 shares of the real estate investment trust’s stock worth $401,698,000 after acquiring an additional 66,772 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

Equity Lifestyle Properties Company Profile

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.