BMO Capital Markets Lowers Equity LifeStyle Properties (NYSE:ELS) Price Target to $77.00

Equity LifeStyle Properties (NYSE:ELS - Free Report) had its price objective lowered by BMO Capital Markets from $78.00 to $77.00 in a research note released on Tuesday morning, Marketbeat.com reports. The brokerage currently has an outperform rating on the real estate investment trust's stock.

A number of other research analysts have also issued reports on the stock. Evercore ISI cut their price target on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada reduced their target price on Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 29th. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a research report on Tuesday, April 8th. They issued a "buy" rating and a $80.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and increased their price target for the stock from $66.00 to $73.00 in a report on Tuesday, January 21st. Finally, Truist Financial upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $74.33.

Equity LifeStyle Properties Stock Down 0.5 %

Shares of ELS stock traded down $0.30 on Tuesday, hitting $63.11. The stock had a trading volume of 1,196,720 shares, compared to its average volume of 1,303,097. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15. Equity LifeStyle Properties has a one year low of $58.86 and a one year high of $76.60. The business has a 50 day moving average price of $66.25 and a 200 day moving average price of $67.51. The company has a market cap of $12.06 billion, a PE ratio of 32.36, a P/E/G ratio of 3.02 and a beta of 0.72.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.83. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. The business had revenue of $327.21 million for the quarter, compared to the consensus estimate of $391.34 million. During the same period last year, the business posted $0.59 EPS. Research analysts anticipate that Equity LifeStyle Properties will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, March 28th. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. This represents a $2.06 dividend on an annualized basis and a yield of 3.26%. Equity LifeStyle Properties's dividend payout ratio is 106.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELS. Vanguard Group Inc. raised its holdings in Equity LifeStyle Properties by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust's stock worth $1,668,586,000 after purchasing an additional 388,888 shares during the period. Principal Financial Group Inc. increased its position in shares of Equity LifeStyle Properties by 172.0% in the fourth quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust's stock valued at $404,319,000 after buying an additional 3,838,809 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Equity LifeStyle Properties by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust's stock worth $339,713,000 after buying an additional 147,332 shares during the period. Invesco Ltd. lifted its position in shares of Equity LifeStyle Properties by 592.7% during the 4th quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust's stock valued at $260,955,000 after buying an additional 3,352,584 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Equity LifeStyle Properties by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,887,371 shares of the real estate investment trust's stock valued at $258,536,000 after acquiring an additional 53,775 shares during the period. Hedge funds and other institutional investors own 97.21% of the company's stock.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.