Equity Lifestyle Properties (NYSE:ELS) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Equity Lifestyle Properties (NYSE:ELS) from a sell rating to a hold rating in a report published on Saturday morning.

Several other research firms have also issued reports on ELS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equity Lifestyle Properties in a research report on Thursday, January 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 price target (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft lowered shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Tuesday, January 20th. Finally, Zacks Research raised shares of Equity Lifestyle Properties from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Equity Lifestyle Properties has a consensus rating of “Moderate Buy” and an average price target of $69.05.

Equity Lifestyle Properties Stock Performance

NYSE ELS opened at $64.00 on Friday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average price is $65.86 and its two-hundred day moving average price is $63.18. Equity Lifestyle Properties has a 1 year low of $58.15 and a 1 year high of $69.00. The firm has a market capitalization of $12.41 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 3.57 and a beta of 0.76.

Equity Lifestyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 27th were given a $0.5425 dividend. The ex-dividend date of this dividend was Friday, March 27th. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. This represents a $2.17 annualized dividend and a dividend yield of 3.4%. Equity Lifestyle Properties’s payout ratio is currently 107.96%.

Insider Buying and Selling at Equity Lifestyle Properties

In other news, Director David J. Contis sold 3,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total value of $201,660.00. Following the transaction, the director directly owned 14,890 shares of the company’s stock, valued at $1,000,905.80. This represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Equity Lifestyle Properties

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Equity Lifestyle Properties in the third quarter valued at about $1,243,000. Fermata Advisors LLC grew its stake in shares of Equity Lifestyle Properties by 471.9% in the fourth quarter. Fermata Advisors LLC now owns 33,933 shares of the real estate investment trust’s stock valued at $2,057,000 after acquiring an additional 28,000 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of Equity Lifestyle Properties by 910.4% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 100,390 shares of the real estate investment trust’s stock valued at $6,091,000 after acquiring an additional 90,454 shares in the last quarter. Argosy Lionbridge Management LLC acquired a new position in shares of Equity Lifestyle Properties in the third quarter valued at about $3,703,000. Finally, Westwood Holdings Group Inc. grew its stake in Equity Lifestyle Properties by 23.2% during the second quarter. Westwood Holdings Group Inc. now owns 229,092 shares of the real estate investment trust’s stock worth $14,128,000 after buying an additional 43,089 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.