Equity Lifestyle Properties, Inc. (ELS) Rating Lowered to Hold at Zacks Investment Research

Equity Lifestyle Properties, Inc. (ELS) Rating Lowered to Hold at Zacks Investment Research

Equity Lifestyle Properties, Inc. (NYSE:ELS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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

Several other equities research analysts have also issued reports on the stock. TheStreet raised shares of Equity Lifestyle Properties from a “c+” rating to a “b” rating in a report on Monday, April 17th. Evercore ISI lowered shares of Equity Lifestyle Properties from a “hold” rating to an “underperform” rating in a report on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $78.25.

Equity Lifestyle Properties (NYSE:ELS) opened at 84.05 on Monday. Equity Lifestyle Properties has a 12-month low of $65.87 and a 12-month high of $86.09. The stock has a 50 day moving average of $82.03 and a 200 day moving average of $76.03. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 42.45 and a beta of 0.33.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, April 17th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.02. The firm had revenue of $232.40 million for the quarter, compared to analyst estimates of $218.28 million. Equity Lifestyle Properties had a net margin of 21.50% and a return on equity of 20.43%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. Equities research analysts anticipate that Equity Lifestyle Properties will post $2.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a $0.4875 dividend. This represents a $1.95 annualized dividend and a yield of 2.32%. The ex-dividend date is Wednesday, June 28th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 88.08%.

In other Equity Lifestyle Properties news, Vice Chairman Howard Walker sold 1,608 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $82.11, for a total value of $132,032.88. Following the sale, the insider now owns 57,265 shares of the company’s stock, valued at approximately $4,702,029.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.90% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in Equity Lifestyle Properties by 4.3% in the third quarter. Venturi Wealth Management LLC now owns 32,011 shares of the real estate investment trust’s stock valued at $2,471,000 after buying an additional 1,331 shares during the last quarter. Zacks Investment Management raised its stake in Equity Lifestyle Properties by 159.8% in the third quarter. Zacks Investment Management now owns 67,823 shares of the real estate investment trust’s stock valued at $5,235,000 after buying an additional 41,720 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Equity Lifestyle Properties by 9.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,500 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 378 shares during the last quarter. Nuveen Fund Advisors LLC purchased a new stake in Equity Lifestyle Properties during the third quarter valued at $201,000. Finally, National Asset Management Inc. raised its stake in Equity Lifestyle Properties by 1.0% in the third quarter. National Asset Management Inc. now owns 3,384 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 32 shares during the last quarter. 93.40% of the stock is currently owned by institutional investors and hedge funds.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (properties) consisting primarily of manufactured home (MH) communities and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations and Home Sales and Rentals Operations.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ELS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Get a free copy of the Zacks research report on Equity Lifestyle Properties (ELS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Related posts

Leave a Comment