Zacks Investment Research upgraded shares of Equity Lifestyle Properties (NYSE:ELS) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. Zacks Investment Research currently has $127.00 target price on the real estate investment trust’s stock.

According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “

A number of other research analysts also recently commented on ELS. Citigroup set a $107.00 target price on shares of Equity Lifestyle Properties and gave the company a hold rating in a research report on Wednesday, December 12th. BMO Capital Markets reaffirmed a hold rating and issued a $104.00 target price on shares of Equity Lifestyle Properties in a research report on Monday, January 28th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $106.08.

NYSE ELS opened at $113.65 on Wednesday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $10.22 billion, a P/E ratio of 29.37, a P/E/G ratio of 4.94 and a beta of 0.34. Equity Lifestyle Properties has a 12 month low of $83.38 and a 12 month high of $114.67.

Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results on Monday, January 28th. The real estate investment trust reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.41). The company had revenue of $243.50 million during the quarter, compared to analysts’ expectations of $232.05 million. Equity Lifestyle Properties had a net margin of 22.62% and a return on equity of 19.46%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business earned $0.84 earnings per share. On average, research analysts forecast that Equity Lifestyle Properties will post 4.18 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be paid a dividend of $0.6125 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.45 dividend on an annualized basis and a yield of 2.16%. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.55. Equity Lifestyle Properties’s dividend payout ratio is currently 56.85%.

In related news, Director David J. Contis sold 6,581 shares of the stock in a transaction on Monday, February 4th. The shares were sold at an average price of $105.53, for a total transaction of $694,492.93. Following the completion of the sale, the director now owns 1,378 shares in the company, valued at approximately $145,420.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.20% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Equity Lifestyle Properties during the 4th quarter worth $77,789,000. Surevest Inc. acquired a new stake in Equity Lifestyle Properties during the 4th quarter worth $275,000. Amalgamated Bank boosted its stake in Equity Lifestyle Properties by 64.2% during the 4th quarter. Amalgamated Bank now owns 19,072 shares of the real estate investment trust’s stock worth $1,852,000 after purchasing an additional 7,459 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Equity Lifestyle Properties by 0.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 133,713 shares of the real estate investment trust’s stock worth $12,988,000 after purchasing an additional 630 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Equity Lifestyle Properties by 9.8% during the 4th quarter. Macquarie Group Ltd. now owns 285,413 shares of the real estate investment trust’s stock worth $27,722,000 after purchasing an additional 25,374 shares during the period. Hedge funds and other institutional investors own 95.06% of the company’s stock.

Equity Lifestyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (“REIT”) with headquarters in Chicago. As of January 28, 2019, we own or have an interest in 409 quality properties in 33 states and British Columbia consisting of 153,984 sites.

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Analyst Recommendations for Equity Lifestyle Properties (NYSE:ELS)

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