Equity Lifestyle Properties, Inc. (ELS) Raised to Buy at Zacks Investment Research

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.

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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.

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