Today: The Equity Lifestyle Properties Inc. (ELS) Receives New Coverage from Analysts at Evercore ISI

The Equity Lifestyle Properties Inc. (ELS) Receives New Coverage from Analysts at Evercore ISI

Investment analysts at Evercore ISI initiated coverage on shares of Equity Lifestyle Properties Inc. (NYSE:ELS) in a report issued on Friday, The Fly reports. The brokerage set a “hold” rating on the stock.

A number of other equities research analysts have also issued reports on the company. BMO Capital Markets reiterated a “hold” rating and issued a $77.00 price target on shares of Equity Lifestyle Properties in a research note on Thursday, July 28th. TheStreet lowered Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. Finally, Citigroup Inc. raised their price objective on Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of C$71.25.

Equity Lifestyle Properties (NYSE:ELS) opened at 74.98 on Friday. Equity Lifestyle Properties has a one year low of $57.71 and a one year high of $83.19. The company’s 50-day moving average price is $76.79 and its 200-day moving average price is $75.66. The stock has a market cap of $6.40 billion, a P/E ratio of 40.46 and a beta of 0.40.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. Equity Lifestyle Properties had a return on equity of 20.11% and a net margin of 21.01%. The business earned $210.10 million during the quarter, compared to analyst estimates of $114.76 million. During the same quarter in the prior year, the business posted $0.70 EPS. Equity Lifestyle Properties’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts forecast that Equity Lifestyle Properties will post $3.30 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, September 28th. Equity Lifestyle Properties’s payout ratio is 91.40%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CenturyLink Investment Management Co acquired a new position in shares of Equity Lifestyle Properties during the third quarter worth approximately $1,040,000. Fox Run Management L.L.C. acquired a new position in shares of Equity Lifestyle Properties during the third quarter worth approximately $262,000. Royal Bank of Canada increased its position in shares of Equity Lifestyle Properties by 405.2% in the second quarter. Royal Bank of Canada now owns 81,978 shares of the company’s stock worth $6,563,000 after buying an additional 65,751 shares during the last quarter. Cohen & Steers Inc. increased its position in shares of Equity Lifestyle Properties by 6.5% in the second quarter. Cohen & Steers Inc. now owns 2,999,366 shares of the company’s stock worth $240,099,000 after buying an additional 183,619 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Equity Lifestyle Properties by 18.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,131,855 shares of the company’s stock worth $90,756,000 after buying an additional 173,067 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust. The Company is an integrated 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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