Equity LifeStyle Properties (NYSE:ELS) Hits New 1-Year Low After Analyst Downgrade

Equity LifeStyle Properties, Inc. (NYSE:ELS - Get Free Report)'s share price hit a new 52-week low during mid-day 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 trading hands. The stock had previously closed at $60.75.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mesirow Financial Investment Management Inc. purchased a new position in shares of Equity LifeStyle Properties during the first quarter worth about $406,000. New York State Teachers Retirement System grew its holdings in shares of 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 purchasing an additional 1,400 shares in the last quarter. Carmel Capital Partners LLC grew its holdings in shares of 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 purchasing an additional 656 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 purchasing an additional 456 shares in the last quarter. Finally, Seven Post Investment Office LP grew its holdings in shares of 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 purchasing an additional 1,164 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Equity LifeStyle Properties Stock Down 0.4 %

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 has a market cap of $11.29 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 4.04 and a beta of 0.69. The company has a fifty day moving average price of $64.53 and a 200 day moving average price of $67.08.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a $0.477 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.91 annualized dividend and a yield of 3.15%. This is a positive change from Equity LifeStyle Properties's previous quarterly dividend of $0.45. Equity LifeStyle Properties's dividend 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.