Equity LifeStyle Properties (NYSE:ELS) Reaches New 12-Month Low After Analyst Downgrade

Equity LifeStyle Properties, Inc. (NYSE:ELS)’s stock price reached a new 52-week low during trading on Friday after Barclays lowered their price target on the stock from $78.00 to $72.00. Barclays currently has an overweight rating on the stock. Equity LifeStyle Properties traded as low as $60.47 and last traded at $60.53, with a volume of 889533 shares traded. The stock had previously closed at $60.75.

Several other equities analysts also recently issued reports on ELS. Wolfe Research raised shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Friday, February 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Equity LifeStyle Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price target for the company. Finally, Truist Financial cut their price target on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.55.

Institutional Trading of Equity LifeStyle Properties

A number of institutional investors have recently made changes to their positions in ELS. Mesirow Financial Investment Management Inc. bought a new stake in Equity LifeStyle Properties during the first quarter worth $406,000. New York State Teachers Retirement System raised its position in Equity LifeStyle Properties by 1.0% during the first quarter. New York State Teachers Retirement System now owns 135,168 shares of the real estate investment trust’s stock worth $8,705,000 after acquiring an additional 1,400 shares in the last quarter. Carmel Capital Partners LLC raised its position in Equity LifeStyle Properties by 14.1% during the first quarter. Carmel Capital Partners LLC now owns 5,302 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 656 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Equity LifeStyle Properties by 0.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,334 shares of the real estate investment trust’s stock worth $4,401,000 after acquiring an additional 456 shares in the last quarter. Finally, Seven Post Investment Office LP raised its position in Equity LifeStyle Properties by 0.6% during the first quarter. Seven Post Investment Office LP now owns 184,684 shares of the real estate investment trust’s stock worth $11,894,000 after acquiring an additional 1,164 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03. The company’s 50-day simple moving average is $64.53 and its 200-day simple moving average is $67.08. The stock has a market capitalization of $11.29 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 4.04 and a beta of 0.69.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a $0.477 dividend. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Wednesday, March 27th. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

About Equity LifeStyle Properties

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.