Equity Lifestyle Properties (ELS) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Equity Lifestyle Properties (NYSE:ELS) from a buy rating to a hold rating in a report published on Monday.

According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “

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ELS has been the topic of several other reports. BMO Capital Markets reiterated a hold rating and set a $95.00 price target on shares of Equity Lifestyle Properties in a research note on Tuesday, January 9th. Cantor Fitzgerald set a $85.00 price objective on shares of Equity Lifestyle Properties and gave the company a hold rating in a research note on Tuesday, January 30th. TheStreet lowered shares of Equity Lifestyle Properties from a b- rating to a c+ rating in a research note on Tuesday, January 16th. Finally, Robert W. Baird set a $90.00 price objective on shares of Equity Lifestyle Properties and gave the company a neutral rating in a research note on Friday, January 5th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $91.00.

Shares of NYSE:ELS opened at $87.36 on Monday. Equity Lifestyle Properties has a 12 month low of $79.54 and a 12 month high of $91.94. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.21. The firm has a market cap of $7,835.19, a P/E ratio of 24.60, a P/E/G ratio of 4.37 and a beta of 0.19.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, January 29th. The real estate investment trust reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.33). Equity Lifestyle Properties had a return on equity of 20.84% and a net margin of 22.41%. The company had revenue of $229.99 million for the quarter, compared to analyst estimates of $210.71 million. equities analysts expect that Equity Lifestyle Properties will post 3.88 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Friday, March 30th were paid a $0.55 dividend. The ex-dividend date was Wednesday, March 28th. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.49. This represents a $2.20 dividend on an annualized basis and a yield of 2.52%. Equity Lifestyle Properties’s payout ratio is currently 61.11%.

In other Equity Lifestyle Properties news, EVP Roger Maynard sold 10,000 shares of Equity Lifestyle Properties stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $85.22, for a total value of $852,200.00. Following the transaction, the executive vice president now directly owns 161,489 shares in the company, valued at $13,762,092.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.20% of the company’s stock.

Large investors have recently modified their holdings of the company. APG Asset Management US Inc. boosted its holdings in shares of Equity Lifestyle Properties by 4.5% in the fourth quarter. APG Asset Management US Inc. now owns 1,076,000 shares of the real estate investment trust’s stock valued at $95,786,000 after acquiring an additional 46,500 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Equity Lifestyle Properties by 28.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,472,800 shares of the real estate investment trust’s stock valued at $220,129,000 after acquiring an additional 542,100 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Equity Lifestyle Properties by 7.1% in the third quarter. California Public Employees Retirement System now owns 195,382 shares of the real estate investment trust’s stock valued at $16,623,000 after acquiring an additional 12,882 shares in the last quarter. Strs Ohio boosted its holdings in shares of Equity Lifestyle Properties by 3.4% in the fourth quarter. Strs Ohio now owns 105,922 shares of the real estate investment trust’s stock valued at $9,429,000 after acquiring an additional 3,530 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Equity Lifestyle Properties by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 943,450 shares of the real estate investment trust’s stock valued at $83,985,000 after acquiring an additional 76,121 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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About Equity Lifestyle Properties

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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