Equity LifeStyle Properties (NYSE:ELS) Trading 3.1% Higher – Here’s What Happened

Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) traded up 3.1% during mid-day trading on Thursday . The company traded as high as $68.95 and last traded at $68.75. 1,422,568 shares were traded during trading, an increase of 11% from the average session volume of 1,285,235 shares. The stock had previously closed at $66.66.

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Evercore ISI cut their price target on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a report on Tuesday, January 28th. BMO Capital Markets raised shares of Equity LifeStyle Properties from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Friday. Royal Bank of Canada reduced their price target on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $72.00 to $80.00 in a report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Moderate Buy” and an average target price of $74.20.

Equity LifeStyle Properties Trading Down 3.1 %

The company has a fifty day simple moving average of $66.98 and a 200-day simple moving average of $68.32. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $12.60 billion, a PE ratio of 33.82, a PEG ratio of 3.02 and a beta of 0.72.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. Analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is 105.64%.

Institutional Trading of Equity LifeStyle Properties

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in Equity LifeStyle Properties by 5.9% during the fourth quarter. Wellington Management Group LLP now owns 12,054 shares of the real estate investment trust’s stock worth $803,000 after buying an additional 673 shares during the period. California State Teachers Retirement System boosted its position in shares of Equity LifeStyle Properties by 15.7% during the 4th quarter. California State Teachers Retirement System now owns 272,969 shares of the real estate investment trust’s stock worth $18,180,000 after purchasing an additional 37,057 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Equity LifeStyle Properties by 6.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,874 shares of the real estate investment trust’s stock valued at $924,000 after purchasing an additional 816 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Equity LifeStyle Properties in the fourth quarter valued at approximately $2,550,000. Finally, Cim LLC lifted its stake in Equity LifeStyle Properties by 1.3% during the fourth quarter. Cim LLC now owns 42,053 shares of the real estate investment trust’s stock worth $2,801,000 after purchasing an additional 546 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.