Equity LifeStyle Properties (NYSE:ELS) Rating Lowered to Hold at Zacks Investment Research

Equity LifeStyle Properties (NYSE:ELSGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “

Several other analysts have also recently weighed in on ELS. StockNews.com assumed coverage on Equity LifeStyle Properties in a report on Thursday, March 31st. They set a “hold” rating for the company. Truist Financial initiated coverage on Equity LifeStyle Properties in a research report on Tuesday, May 10th. They set a “buy” rating and a $78.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $85.14.

ELS traded down $1.81 on Friday, hitting $74.11. The company had a trading volume of 747,328 shares, compared to its average volume of 916,332. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 48.76, a price-to-earnings-growth ratio of 5.41 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.03 and a quick ratio of 0.03. The company’s fifty day moving average price is $76.15 and its 200 day moving average price is $78.55. Equity LifeStyle Properties has a 1-year low of $67.57 and a 1-year high of $88.70.

Equity LifeStyle Properties (NYSE:ELSGet Rating) last issued its quarterly earnings results on Monday, April 18th. The real estate investment trust reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.25). The business had revenue of $360.20 million for the quarter, compared to analyst estimates of $305.59 million. Equity LifeStyle Properties had a return on equity of 19.91% and a net margin of 20.97%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. On average, sell-side analysts forecast that Equity LifeStyle Properties will post 2.76 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Spirit of America Management Corp NY raised its position in shares of Equity LifeStyle Properties by 1.8% in the fourth quarter. Spirit of America Management Corp NY now owns 36,150 shares of the real estate investment trust’s stock valued at $3,169,000 after purchasing an additional 650 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Equity LifeStyle Properties by 6.9% in the fourth quarter. State of Alaska Department of Revenue now owns 96,181 shares of the real estate investment trust’s stock worth $8,430,000 after buying an additional 6,230 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Equity LifeStyle Properties by 8.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 56,526 shares of the real estate investment trust’s stock valued at $4,955,000 after buying an additional 4,376 shares during the last quarter. Invesco Ltd. boosted its position in Equity LifeStyle Properties by 90.7% during the 4th quarter. Invesco Ltd. now owns 1,028,833 shares of the real estate investment trust’s stock valued at $90,187,000 after buying an additional 489,424 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Equity LifeStyle Properties by 12.2% in the 4th quarter. CIBC Asset Management Inc now owns 8,143 shares of the real estate investment trust’s stock worth $714,000 after acquiring an additional 884 shares during the last quarter. 90.90% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Company Profile (Get Rating)

We are a self-administered, self-managed real estate investment trust (REIT) 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.

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