Wolfe Research upgraded shares of Equity LifeStyle Properties (NYSE:ELS – Free Report) from a peer perform rating to an outperform rating in a research report report published on Friday morning, MarketBeat.com reports. The brokerage currently has $75.00 price objective on the real estate investment trust’s stock.
Several other research analysts have also weighed in on ELS. Truist Financial lowered their price objective on Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada reiterated a sector perform rating and issued a $70.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Bank of America lowered Equity LifeStyle Properties from a buy rating to a neutral rating and lowered their price objective for the stock from $70.00 to $64.00 in a research report on Monday, October 23rd. Deutsche Bank Aktiengesellschaft began coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They issued a hold rating and a $64.00 price objective for the company. Finally, StockNews.com upgraded Equity LifeStyle Properties from a sell rating to a hold rating in a research report on Friday, November 3rd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $70.15.
Equity LifeStyle Properties Price Performance
Equity LifeStyle Properties Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be issued a $0.477 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 dividend on an annualized basis and a yield of 2.87%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 106.55%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Atria Investments Inc raised its stake in Equity LifeStyle Properties by 14.4% in the second quarter. Atria Investments Inc now owns 40,605 shares of the real estate investment trust’s stock valued at $2,716,000 after buying an additional 5,110 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Equity LifeStyle Properties by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,081,947 shares of the real estate investment trust’s stock valued at $139,261,000 after buying an additional 18,835 shares in the last quarter. Duality Advisers LP acquired a new stake in Equity LifeStyle Properties in the third quarter valued at $384,000. Jupiter Asset Management Ltd. acquired a new stake in Equity LifeStyle Properties in the second quarter valued at $6,549,000. Finally, Boston Partners raised its stake in Equity LifeStyle Properties by 0.7% in the second quarter. Boston Partners now owns 1,633,857 shares of the real estate investment trust’s stock valued at $109,300,000 after buying an additional 11,069 shares in the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.
About Equity LifeStyle Properties
We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of October 16, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,707 sites.
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