Equity Lifestyle Properties (NYSE:ELS) Sets New 52-Week Low - What's Next?

Key Points

• Equity Lifestyle Properties shares hit a new 52-week low of $58.32, below their 50-day and 200-day moving averages. Analysts maintain a consensus “Hold” rating with an average price target of $67.88.
• The REIT’s latest quarterly results were mixed: revenue rose 5.5% year over year to $397.81 million and beat expectations, but EPS of $0.50 missed the $0.72 consensus estimate.
• Equity Lifestyle Properties declared a quarterly dividend of $0.5425, equivalent to $2.17 annually and a 3.7% yield. Institutional investors own approximately 97.21% of the company’s shares.

Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Get Free Report) reached a new 52-week low on Thursday. The stock traded as low as $58.32 and last traded at $58.4540, with a volume of 1538019 shares trading hands. The stock had previously closed at $58.71.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group set a $65.00 target price on shares of Equity Lifestyle Properties in a research report on Monday, September 21st. Morgan Stanley reiterated a "mixed" rating and set a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Barclays set a $69.00 price objective on shares of Equity Lifestyle Properties and gave the stock an "equal weight" rating in a research report on Monday, August 17th. Mizuho restated a "neutral" rating and issued a $65.00 price objective (down from $72.00) on shares of Equity Lifestyle Properties in a research note on Monday, September 21st. Finally, Jefferies Financial Group raised shares of Equity Lifestyle Properties to a "strong-buy" rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $67.88.

Equity Lifestyle Properties Stock Down 0.4%

The firm has a 50 day simple moving average of $63.23 and a two-hundred day simple moving average of $63.54. The company has a market capitalization of $11.34 billion, a PE ratio of 28.10, a P/E/G ratio of 3.49 and a beta of 0.64. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.22). The company had revenue of $397.81 million for the quarter, compared to analysts' expectations of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.Equity Lifestyle Properties's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. Research analysts expect that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be issued a $0.5425 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.17 annualized dividend and a dividend yield of 3.7%. Equity Lifestyle Properties's payout ratio is presently 104.33%.

Institutional Investors Weigh In On Equity Lifestyle Properties

Hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in Equity Lifestyle Properties by 126.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 415 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 232 shares during the period. Clearstead Trust LLC acquired a new stake in shares of Equity Lifestyle Properties in the 2nd quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Equity Lifestyle Properties in the second quarter valued at approximately $37,000. Osterweis Capital Management Inc. purchased a new stake in shares of Equity Lifestyle Properties in the second quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Equity Lifestyle Properties by 67.3% in the first quarter. EverSource Wealth Advisors LLC now owns 726 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 292 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc NYSE: ELS is a real estate investment trust that owns and operates manufactured home communities, recreational vehicle resorts and marinas. Its properties provide residential sites for manufactured homes and park model homes, as well as vacation-oriented accommodations and facilities for RV owners and boaters.

The company serves a range of residents and travelers through long-term manufactured housing communities, seasonal and transient RV resorts, and marina properties.

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