Equity Lifestyle Properties (NYSE:ELS) Upgraded at Bank of America

Bank of America upgraded shares of Equity Lifestyle Properties (NYSE:ELS) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have $76.00 target price on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on ELS. Deutsche Bank Aktiengesellschaft lowered Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a report on Tuesday, January 20th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. Zacks Research lowered shares of Equity Lifestyle Properties from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Evercore ISI dropped their price objective on shares of Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating for the company in a research note on Thursday, October 23rd. Finally, Robert W. Baird set a $73.00 price objective on shares of Equity Lifestyle Properties in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.19.

Equity Lifestyle Properties Price Performance

NYSE:ELS opened at $66.43 on Tuesday. Equity Lifestyle Properties has a 52 week low of $58.15 and a 52 week high of $70.35. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $12.88 billion, a PE ratio of 33.05, a price-to-earnings-growth ratio of 3.64 and a beta of 0.76. The stock’s 50-day moving average price is $61.98 and its 200-day moving average price is $61.41.

Equity Lifestyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, March 27th. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 102.49%.

Institutional Trading of Equity Lifestyle Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in ELS. Wiser Advisor Group LLC acquired a new stake in shares of Equity Lifestyle Properties in the third quarter valued at $25,000. GoalVest Advisory LLC purchased a new position in Equity Lifestyle Properties during the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd increased its stake in Equity Lifestyle Properties by 943.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 453 shares during the period. Fulcrum Asset Management LLP purchased a new stake in Equity Lifestyle Properties during the third quarter worth about $34,000. Finally, Bessemer Group Inc. lifted its position in shares of Equity Lifestyle Properties by 126.9% during the third quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 321 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

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.