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.