UBS Group Cuts Equity Lifestyle Properties (NYSE:ELS) Price Target to $67.00

Equity Lifestyle Properties (NYSE:ELS) had its target price cut by UBS Group from $76.00 to $67.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other brokerages also recently commented on ELS. Odeon Capital Group set a $65.00 price objective on Equity Lifestyle Properties in a research report on Thursday, July 9th. Jefferies Financial Group upgraded shares of Equity Lifestyle Properties to a “strong-buy” rating in a research report on Wednesday, July 22nd. Evercore set a $68.00 target price on shares of Equity Lifestyle Properties in a research note on Monday, September 21st. Morgan Stanley restated a “mixed” rating and set a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. Finally, Barclays set a $69.00 price target on Equity Lifestyle Properties and gave the stock an “equal weight” rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $68.02.

Equity Lifestyle Properties Stock Up 0.8%

Shares of NYSE ELS opened at $58.45 on Tuesday. Equity Lifestyle Properties has a 12 month low of $57.46 and a 12 month high of $69.00. The firm has a market capitalization of $11.34 billion, a PE ratio of 28.10, a price-to-earnings-growth ratio of 3.44 and a beta of 0.63. The firm has a fifty day simple moving average of $62.29 and a two-hundred day simple moving average of $63.19. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.22). The company had revenue of $397.81 million during the quarter, compared to the consensus estimate of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities analysts expect that Equity Lifestyle Properties will post 3.2 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties’s payout ratio is presently 104.33%.

Hedge Funds Weigh In On Equity Lifestyle Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its holdings in Equity Lifestyle Properties by 30.3% in the first quarter. Bessemer Group Inc. now owns 735 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 171 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Equity Lifestyle Properties by 3.5% in the 1st quarter. Fifth Third Bancorp now owns 5,561 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 189 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Equity Lifestyle Properties by 126.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 415 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 232 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Equity Lifestyle Properties by 9.5% in the 1st quarter. Parallel Advisors LLC now owns 3,209 shares of the real estate investment trust’s stock valued at $200,000 after acquiring an additional 278 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in shares of Equity Lifestyle Properties by 4.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 6,658 shares of the real estate investment trust’s stock valued at $416,000 after acquiring an additional 280 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 real estate investment trust that owns and operates manufactured home communities, recreational vehicle resorts and marinas. Its properties provide residential sites for manufactured homes and park model homes, as well as vacation-oriented accommodations and facilities for RV owners and boaters.

The company serves a range of residents and travelers through long-term manufactured housing communities, seasonal and transient RV resorts, and marina properties.