Equity Lifestyle Properties, Inc. (NYSE:ELS) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Consensus rating: Sixteen analysts give ELS an average rating of "Moderate Buy" with a 12‑month average price target of about $69.05.
• Dividend raised: Quarterly dividend increased to $0.5425 (annualized $2.17) for a ~3.4% yield, though the payout ratio is roughly 108%.
• Institutional activity: Large funds boosted positions—Price T. Rowe added ~12 million shares to hold ~15.95 million—and institutions now own about 97% of the stock, while an insider sold 3,000 shares.

Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Get Free Report) have earned an average rating of "Moderate Buy" from the sixteen analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $69.0536.

Several equities research analysts have commented on the stock. Barclays reaffirmed an "overweight" rating and set a $71.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a report on Thursday, February 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Equity Lifestyle Properties in a report on Friday, January 30th. Zacks Research raised shares of Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. Bank of America raised shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $76.00 price objective on the stock in a report on Tuesday, February 3rd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $75.00 price objective (up from $72.00) on shares of Equity Lifestyle Properties in a report on Wednesday, February 18th.

Insider Buying and Selling

In other Equity Lifestyle Properties news, Director David J. Contis sold 3,000 shares of the company's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total transaction of $201,660.00. Following the sale, the director directly owned 14,890 shares of the company's stock, valued at $1,000,905.80. This represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equity Lifestyle Properties

A number of institutional investors and hedge funds have recently modified their holdings of ELS. Price T Rowe Associates Inc. MD lifted its holdings in shares of Equity Lifestyle Properties by 303.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust's stock worth $966,648,000 after buying an additional 11,999,874 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Equity Lifestyle Properties by 114.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,375,154 shares of the real estate investment trust's stock worth $326,272,000 after buying an additional 2,868,678 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Equity Lifestyle Properties by 253.7% in the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust's stock worth $191,025,000 after buying an additional 2,257,299 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Equity Lifestyle Properties by 26.8% in the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust's stock worth $643,331,000 after buying an additional 2,246,622 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Equity Lifestyle Properties in the fourth quarter worth about $125,352,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Price Performance

ELS opened at $63.54 on Wednesday. The firm has a market cap of $12.32 billion, a P/E ratio of 31.61, a PEG ratio of 3.56 and a beta of 0.76. The firm has a 50-day moving average of $65.78 and a 200 day moving average of $63.12. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.04 and a current ratio of 0.04. Equity Lifestyle Properties has a fifty-two week low of $58.15 and a fifty-two week high of $69.00.

Equity Lifestyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a yield of 3.4%. This is a boost from Equity Lifestyle Properties's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, March 27th. Equity Lifestyle Properties's payout ratio is currently 107.96%.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc NYSE: ELS is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company's portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.