Equity LifeStyle Properties (NYSE:ELS) Reaches New 12-Month Low After Analyst Downgrade

Equity LifeStyle Properties, Inc. (NYSE:ELS) shares hit a new 52-week low 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 traded. The stock had previously closed at $60.75.

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

Institutional Investors Weigh In On Equity LifeStyle Properties

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. bought a new stake in Equity LifeStyle Properties during the first quarter worth about $406,000. New York State Teachers Retirement System lifted its holdings in shares of Equity LifeStyle Properties by 1.0% in 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 acquiring an additional 1,400 shares during the last quarter. Carmel Capital Partners LLC lifted its holdings in shares of Equity LifeStyle Properties by 14.1% in the first quarter. Carmel Capital Partners LLC now owns 5,302 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 656 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Equity LifeStyle Properties by 0.7% in 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 acquiring an additional 456 shares during the last quarter. Finally, Seven Post Investment Office LP lifted its holdings in shares of Equity LifeStyle Properties by 0.6% in 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 acquiring an additional 1,164 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Price Performance

The stock has a market cap of $11.29 billion, a P/E ratio of 33.45, a PEG ratio of 4.04 and a beta of 0.69. 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 business’s fifty day moving average price is $64.53 and its 200 day moving average price is $67.08.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Equity LifeStyle Properties Company Profile

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.