Equity Lifestyle Properties (NYSE:ELS) Price Target Raised to $120.00

Equity Lifestyle Properties (NYSE:ELS) had its target price lifted by Wells Fargo & Co from $112.00 to $120.00 in a report issued on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has a market perform rating on the real estate investment trust’s stock.

Separately, Zacks Investment Research raised shares of Equity Lifestyle Properties from a hold rating to a buy rating and set a $140.00 price target for the company in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $116.20.

Shares of ELS opened at $134.11 on Wednesday. The company has a 50 day moving average price of $132.75 and a 200-day moving average price of $122.28. Equity Lifestyle Properties has a fifty-two week low of $90.90 and a fifty-two week high of $138.92. The stock has a market capitalization of $12.11 billion, a PE ratio of 34.65, a PEG ratio of 4.41 and a beta of 0.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.06 and a current ratio of 0.06.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.02. Equity Lifestyle Properties had a net margin of 27.02% and a return on equity of 22.00%. The firm had revenue of $248.37 million during the quarter, compared to analysts’ expectations of $244.91 million. During the same quarter in the prior year, the company earned $0.89 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Equity Lifestyle Properties will post 4.2 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.613 per share. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.45 dividend on an annualized basis and a yield of 1.83%. Equity Lifestyle Properties’s dividend payout ratio is presently 63.31%.

In related news, EVP Roger Maynard sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president now owns 130,645 shares of the company’s stock, valued at $16,330,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul Seavey sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $124.80, for a total transaction of $873,600.00. Following the sale, the chief financial officer now directly owns 71,571 shares of the company’s stock, valued at approximately $8,932,060.80. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Rehmann Capital Advisory Group lifted its position in Equity Lifestyle Properties by 21.2% during the second quarter. Rehmann Capital Advisory Group now owns 628 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 110 shares during the last quarter. US Bancorp DE raised its holdings in shares of Equity Lifestyle Properties by 1.9% in the second quarter. US Bancorp DE now owns 7,569 shares of the real estate investment trust’s stock worth $918,000 after buying an additional 143 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Equity Lifestyle Properties by 5.2% in the second quarter. Janney Montgomery Scott LLC now owns 3,285 shares of the real estate investment trust’s stock worth $399,000 after buying an additional 161 shares during the last quarter. Davis Selected Advisers raised its holdings in shares of Equity Lifestyle Properties by 0.3% in the second quarter. Davis Selected Advisers now owns 62,680 shares of the real estate investment trust’s stock worth $7,606,000 after buying an additional 170 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Equity Lifestyle Properties by 53.5% in the second quarter. Signaturefd LLC now owns 505 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 176 shares during the last quarter. 94.53% of the stock is owned by institutional investors.

About Equity Lifestyle Properties

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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