Zacks Investment Research upgraded shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) from a hold rating to a buy rating in a research note released on Thursday. They currently have $97.00 price target on the real estate investment trust’s stock.
According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “
Several other brokerages have also recently issued reports on ELS. Cantor Fitzgerald restated a hold rating and set a $81.00 price objective on shares of Equity Lifestyle Properties in a research note on Wednesday. Robert W. Baird cut Equity Lifestyle Properties from an outperform rating to a neutral rating and set a $92.00 price objective on the stock. in a research note on Friday, September 8th. Finally, BidaskClub upgraded Equity Lifestyle Properties from a hold rating to a buy rating in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $86.75.
Equity Lifestyle Properties (NYSE:ELS) opened at 88.17 on Thursday. Equity Lifestyle Properties has a 52 week low of $65.87 and a 52 week high of $90.80. The stock has a market cap of $7.67 billion, a P/E ratio of 43.76 and a beta of 0.32. The company has a 50-day moving average of $87.88 and a 200-day moving average of $83.78.
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, meeting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $209.80 million. Equity Lifestyle Properties had a return on equity of 20.64% and a net margin of 22.00%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. On average, analysts predict that Equity Lifestyle Properties will post $2.14 EPS for the current fiscal year.
WARNING: “Equity Lifestyle Properties, Inc. (ELS) Raised to Buy at Zacks Investment Research” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://ledgergazette.com/2017/09/17/equity-lifestyle-properties-inc-els-raised-to-buy-at-zacks-investment-research.html.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a dividend of $0.4875 per share. This represents a $1.95 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, September 28th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 97.02%.
In related news, Chairman Samuel Zell bought 805,333 shares of the business’s stock in a transaction on Friday, July 21st. The shares were bought at an average cost of $87.43 per share, for a total transaction of $70,410,264.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Gofen & Glossberg LLC IL bought a new stake in Equity Lifestyle Properties in the second quarter valued at $215,000. Public Employees Retirement System of Ohio lifted its stake in Equity Lifestyle Properties by 2.6% in the second quarter. Public Employees Retirement System of Ohio now owns 126,860 shares of the real estate investment trust’s stock valued at $10,953,000 after buying an additional 3,168 shares during the last quarter. Koch Industries Inc. bought a new stake in Equity Lifestyle Properties in the second quarter valued at $337,000. Raymond James Financial Services Advisors Inc. lifted its stake in Equity Lifestyle Properties by 57.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,104 shares of the real estate investment trust’s stock valued at $527,000 after buying an additional 2,229 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Equity Lifestyle Properties by 7.4% in the second quarter. Assetmark Inc. now owns 115,939 shares of the real estate investment trust’s stock valued at $10,010,000 after buying an additional 8,032 shares during the last quarter. Institutional investors own 95.67% of the company’s stock.
Equity Lifestyle Properties Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Equity Lifestyle Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Lifestyle Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.