Equity Lifestyle Properties (NYSE:ELS) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Equity Lifestyle Properties (NYSE:ELS) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other brokerages have also recently weighed in on ELS. Weiss Ratings restated a “hold (c)” rating on shares of Equity Lifestyle Properties in a research note on Thursday, January 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $75.00 target price (up from $72.00) on shares of Equity Lifestyle Properties in a 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 target price for the company. in a research report on Tuesday, January 20th. UBS Group set a $67.00 price target on Equity Lifestyle Properties and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Zacks Research upgraded Equity Lifestyle Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.42.

Equity Lifestyle Properties Stock Performance

Shares of NYSE ELS opened at $68.42 on Friday. The business’s 50-day simple moving average is $63.85 and its 200-day simple moving average is $62.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.04 and a current ratio of 0.04. Equity Lifestyle Properties has a 52 week low of $58.15 and a 52 week high of $70.35. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of 34.04, a P/E/G ratio of 3.73 and a beta of 0.75.

Equity Lifestyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be given a dividend of $0.5425 per share. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, March 27th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 102.49%.

Hedge Funds Weigh In On Equity Lifestyle Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wiser Advisor Group LLC bought a new stake in shares of Equity Lifestyle Properties in the 3rd quarter worth approximately $25,000. GoalVest Advisory LLC bought a new position in Equity Lifestyle Properties in the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd lifted its position in Equity Lifestyle Properties by 943.8% in 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. Clearstead Trust LLC boosted its stake in Equity Lifestyle Properties by 74.8% during the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 231 shares in the last quarter. Finally, Fulcrum Asset Management LLP bought a new stake in Equity Lifestyle Properties in the 3rd quarter valued at $34,000. 97.21% of the stock is currently 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.