Equity LifeStyle Properties (NYSE:ELS) Reaches New 52-Week Low – Here’s What Happened

Equity LifeStyle Properties, Inc. (NYSE:ELS) shares hit a new 52-week low on Wednesday . The company traded as low as $58.86 and last traded at $60.84, with a volume of 255244 shares. The stock had previously closed at $61.79.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ELS. Robert W. Baird lifted their target price on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Evercore ISI reduced their price target on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a report on Tuesday, January 28th. BMO Capital Markets upgraded shares of Equity LifeStyle Properties from a “market perform” rating to an “outperform” rating and set a $78.00 price target on the stock in a research note on Friday, April 4th. Finally, Royal Bank of Canada reduced their price objective on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Equity LifeStyle Properties has a consensus rating of “Moderate Buy” and an average price target of $74.20.

Equity LifeStyle Properties Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02. The firm’s 50 day moving average price is $66.60 and its 200-day moving average price is $67.90. The firm has a market capitalization of $12.29 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72.

Equity LifeStyle Properties (NYSE:ELS) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. On average, research analysts expect that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 28th. Equity LifeStyle Properties’s dividend payout ratio is 105.64%.

Hedge Funds Weigh In On Equity LifeStyle Properties

A number of institutional investors and hedge funds have recently bought and sold shares of ELS. Vanguard Group Inc. lifted its stake in Equity LifeStyle Properties by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust’s stock worth $1,668,586,000 after purchasing an additional 388,888 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Equity LifeStyle Properties by 172.0% in the fourth quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust’s stock valued at $404,319,000 after purchasing an additional 3,838,809 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Equity LifeStyle Properties by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust’s stock worth $339,713,000 after buying an additional 147,332 shares in the last quarter. Invesco Ltd. boosted its stake in Equity LifeStyle Properties by 592.7% during the fourth quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust’s stock worth $260,955,000 after buying an additional 3,352,584 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Equity LifeStyle Properties by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,887,371 shares of the real estate investment trust’s stock valued at $258,536,000 after buying an additional 53,775 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity LifeStyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.