Equity LifeStyle Properties (NYSE:ELS) Earns Buy Rating from Analysts at Truist Financial

Truist Financial began coverage on shares of Equity LifeStyle Properties (NYSE:ELSGet Rating) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set a “buy” rating on the real estate investment trust’s stock.

Several other brokerages have also recently commented on ELS. Zacks Investment Research upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Tuesday, April 26th. Royal Bank of Canada decreased their price target on shares of Equity LifeStyle Properties from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 26th. Finally, StockNews.com began coverage on shares of Equity LifeStyle Properties in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $84.50.

Shares of ELS traded down $1.14 during trading hours on Tuesday, reaching $68.66. 26,976 shares of the stock traded hands, compared to its average volume of 901,697. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.37. Equity LifeStyle Properties has a 52-week low of $67.62 and a 52-week high of $88.70. The company’s 50-day moving average price is $77.07 and its two-hundred day moving average price is $80.04. The company has a market cap of $12.77 billion, a P/E ratio of 45.17, a price-to-earnings-growth ratio of 4.17 and a beta of 0.59.

Equity LifeStyle Properties (NYSE:ELSGet Rating) last released its earnings results on Monday, April 18th. The real estate investment trust reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.25). Equity LifeStyle Properties had a net margin of 20.97% and a return on equity of 19.91%. The firm had revenue of $360.20 million for the quarter, compared to analysts’ expectations of $305.59 million. During the same quarter last year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, research analysts forecast that Equity LifeStyle Properties will post 2.77 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Equity LifeStyle Properties by 4.0% in the 4th quarter. BlackRock Inc. now owns 14,515,744 shares of the real estate investment trust’s stock worth $1,272,449,000 after buying an additional 553,865 shares during the last quarter. State Street Corp grew its holdings in Equity LifeStyle Properties by 6.0% during the 4th quarter. State Street Corp now owns 7,800,900 shares of the real estate investment trust’s stock valued at $686,611,000 after purchasing an additional 441,630 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Equity LifeStyle Properties by 5.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,829,541 shares of the real estate investment trust’s stock valued at $369,364,000 after purchasing an additional 228,094 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Equity LifeStyle Properties by 9.3% during the 1st quarter. Victory Capital Management Inc. now owns 3,924,876 shares of the real estate investment trust’s stock valued at $300,201,000 after purchasing an additional 333,692 shares during the last quarter. Finally, Norges Bank bought a new position in Equity LifeStyle Properties during the 4th quarter valued at about $287,372,000. Hedge funds and other institutional investors own 90.90% of the company’s stock.

Equity LifeStyle Properties Company Profile (Get Rating)

We are a self-administered, self-managed real estate investment trust (ÂREITÂ) with headquarters in Chicago. As of January 25, 2021, we own or have an interest in 423 quality properties in 33 states and British Columbia consisting of 161,229 sites.

Further Reading

The Fly logo

Analyst Recommendations for Equity LifeStyle Properties (NYSE:ELS)

Receive News & Ratings for Equity LifeStyle Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity LifeStyle Properties and related companies with MarketBeat.com's FREE daily email newsletter.