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

Key Points

• Analyst sentiment is mostly positive: Equity Lifestyle Properties has an average brokerage rating of “Moderate Buy,” with 9 buy and 1 strong buy ratings among 17 analysts. The average 1-year price target is about $69.27, above the recent trading price.
• Recent earnings were mixed: The company reported quarterly EPS of $0.56, missing estimates of $0.84, while revenue of $397.62 million slightly beat expectations. Revenue still grew 2.7% year over year.
• The stock continues to offer a dividend: Equity Lifestyle Properties announced a quarterly dividend of $0.5425 per share, equal to an annualized yield of 3.5%. However, the payout ratio is high at 108.5%.

Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $69.2679.

Several equities analysts have recently weighed in on ELS shares. Mizuho initiated coverage on Equity Lifestyle Properties in a research report on Tuesday, March 31st. They set an "outperform" rating and a $72.00 target price on the stock. Zacks Research upgraded Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 price objective for the company in a report on Wednesday, April 15th. Wall Street Zen upgraded Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. Finally, Bank of America upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $76.00 price objective for the company in a report on Tuesday, February 3rd.

Insider Transactions at Equity Lifestyle Properties

In related news, Director David J. Contis sold 3,000 shares of the business's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total transaction of $201,660.00. Following the completion of the transaction, the director owned 14,890 shares in the company, valued at $1,000,905.80. The trade was a 16.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equity Lifestyle Properties

Large investors have recently bought and sold shares of the business. Fermata Advisors LLC lifted its holdings in shares of Equity Lifestyle Properties by 471.9% in the 4th quarter. Fermata Advisors LLC now owns 33,933 shares of the real estate investment trust's stock worth $2,057,000 after buying an additional 28,000 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Equity Lifestyle Properties by 11.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 337,948 shares of the real estate investment trust's stock worth $20,206,000 after buying an additional 34,946 shares during the period. Argosy Lionbridge Management LLC purchased a new stake in shares of Equity Lifestyle Properties in the 3rd quarter worth $3,703,000. ProShare Advisors LLC lifted its holdings in shares of Equity Lifestyle Properties by 10.8% in the 3rd quarter. ProShare Advisors LLC now owns 586,269 shares of the real estate investment trust's stock worth $35,587,000 after buying an additional 56,913 shares during the period. Finally, Swiss Life Asset Management Ltd lifted its holdings in shares of Equity Lifestyle Properties by 232.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 56,617 shares of the real estate investment trust's stock worth $3,437,000 after buying an additional 39,580 shares during the period. Hedge funds and other institutional investors own 97.21% of the company's stock.

Equity Lifestyle Properties Stock Performance

NYSE ELS opened at $62.43 on Thursday. The company has a market cap of $12.11 billion, a P/E ratio of 31.22, a P/E/G ratio of 3.80 and a beta of 0.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.04 and a current ratio of 0.04. The business's 50 day moving average price is $63.53 and its 200-day moving average price is $63.60. Equity Lifestyle Properties has a fifty-two week low of $58.15 and a fifty-two week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.28). The company had revenue of $397.62 million for the quarter, compared to the consensus estimate of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. Sell-side analysts predict that Equity Lifestyle Properties will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a dividend of $0.5425 per share. The ex-dividend date is Friday, June 26th. This represents a $2.17 dividend on an annualized basis and a yield of 3.5%. Equity Lifestyle Properties's payout ratio is presently 108.50%.

Equity Lifestyle Properties Company Profile

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.

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