Barclays Trims Equity LifeStyle Properties (NYSE:ELS) Target Price to $72.00

Equity LifeStyle Properties (NYSE:ELS) had its price target trimmed by Barclays from $78.00 to $72.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

ELS has been the subject of several other reports. Truist Financial lowered their target price on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a hold rating for the company in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft started coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They issued a hold rating and a $64.00 price target for the company. Wolfe Research raised shares of Equity LifeStyle Properties from a peer perform rating to an outperform rating and set a $75.00 price target for the company in a research report on Friday, February 9th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $70.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Equity LifeStyle Properties has an average rating of Hold and a consensus price target of $69.55.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock opened at $60.70 on Friday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $64.30 and its 200-day moving average price is $67.06. The stock has a market cap of $11.32 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 3.99 and a beta of 0.69. Equity LifeStyle Properties has a 12 month low of $60.47 and a 12 month high of $74.04.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a $0.477 dividend. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.91 dividend on an annualized basis and a yield of 3.14%. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Equity LifeStyle Properties by 1.9% during the third quarter. Vanguard Group Inc. now owns 24,909,450 shares of the real estate investment trust’s stock valued at $1,586,981,000 after buying an additional 472,855 shares during the last quarter. Aristotle Capital Management LLC raised its holdings in Equity LifeStyle Properties by 17.1% in the 3rd quarter. Aristotle Capital Management LLC now owns 11,536,605 shares of the real estate investment trust’s stock worth $734,997,000 after purchasing an additional 1,681,198 shares during the period. Chai Trust Co. LLC lifted its position in Equity LifeStyle Properties by 1.1% during the third quarter. Chai Trust Co. LLC now owns 9,055,685 shares of the real estate investment trust’s stock valued at $576,938,000 after purchasing an additional 102,696 shares in the last quarter. Norges Bank bought a new stake in Equity LifeStyle Properties during the fourth quarter valued at about $455,623,000. Finally, Victory Capital Management Inc. increased its position in Equity LifeStyle Properties by 0.8% in the third quarter. Victory Capital Management Inc. now owns 5,770,822 shares of the real estate investment trust’s stock worth $367,659,000 after buying an additional 46,943 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

About Equity LifeStyle Properties

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.