Equity Lifestyle Properties, Inc. (NYSE:ELS) Cut to “Hold” at BidaskClub
BidaskClub lowered shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) from a buy rating to a hold rating in a research report report published on Thursday morning.
A number of other analysts have also recently weighed in on ELS. Cantor Fitzgerald reiterated a neutral rating and set a $81.00 price target (up from $75.00) on shares of Equity Lifestyle Properties in a research report on Saturday, July 22nd. Zacks Investment Research upgraded Equity Lifestyle Properties from a hold rating to a buy rating and set a $95.00 price target on the stock in a research report on Tuesday, June 13th. Evercore ISI increased their price target on Equity Lifestyle Properties from $74.00 to $77.00 and gave the stock an underperform rating in a research report on Tuesday, April 18th. Finally, TheStreet upgraded Equity Lifestyle Properties from a c+ rating to a b rating in a research report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Equity Lifestyle Properties currently has an average rating of Hold and an average price target of $83.25.
Equity Lifestyle Properties (NYSE ELS) traded down 1.09% on Thursday, hitting $86.72. The stock had a trading volume of 106,332 shares. Equity Lifestyle Properties has a 12-month low of $65.87 and a 12-month high of $88.16. The company’s 50 day moving average price is $86.10 and its 200-day moving average price is $80.64. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 43.04 and a beta of 0.31.
Equity Lifestyle Properties (NYSE:ELS) last released its earnings results on Monday, July 17th. The real estate investment trust reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. Equity Lifestyle Properties had a return on equity of 20.64% and a net margin of 22.00%. The company had revenue of $221.30 million for the quarter, compared to the consensus estimate of $209.80 million. During the same quarter last year, the business posted $0.75 EPS. Equity Lifestyle Properties’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Equity Lifestyle Properties will post $2.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.4875 per share. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 28th. Equity Lifestyle Properties’s payout ratio is 97.02%.
In other news, Vice Chairman Howard Walker sold 1,608 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $82.11, for a total transaction of $132,032.88. Following the sale, the insider now directly owns 57,265 shares in the company, valued at approximately $4,702,029.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Samuel Zell purchased 805,333 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were bought at an average price of $87.43 per share, for a total transaction of $70,410,264.19. The disclosure for this purchase can be found here. 6.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. boosted its stake in Equity Lifestyle Properties by 3.2% in the first quarter. Macquarie Group Ltd. now owns 356,050 shares of the real estate investment trust’s stock valued at $27,437,000 after buying an additional 10,912 shares in the last quarter. BlackRock Inc. boosted its stake in Equity Lifestyle Properties by 4,674.0% in the first quarter. BlackRock Inc. now owns 6,050,846 shares of the real estate investment trust’s stock valued at $466,277,000 after buying an additional 5,924,100 shares in the last quarter. Resolution Capital Ltd boosted its stake in Equity Lifestyle Properties by 19.4% in the first quarter. Resolution Capital Ltd now owns 1,388,534 shares of the real estate investment trust’s stock valued at $107,000,000 after buying an additional 226,050 shares in the last quarter. Vanguard Group Inc. boosted its stake in Equity Lifestyle Properties by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,493,430 shares of the real estate investment trust’s stock valued at $962,743,000 after buying an additional 312,465 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Equity Lifestyle Properties by 22.5% in the first quarter. Asset Management One Co. Ltd. now owns 238,027 shares of the real estate investment trust’s stock valued at $18,286,000 after buying an additional 43,717 shares in the last quarter. Hedge funds and other institutional investors own 96.59% of the company’s stock.
About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (properties) consisting primarily of manufactured home (MH) communities and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations and Home Sales and Rentals Operations.
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