Equity Lifestyle Properties (NYSE:ELS) PT Set at $68.00 by Truist Financial

Equity Lifestyle Properties (NYSE:ELS) has been given a $68.00 price objective by stock analysts at Truist Financial in a report released on Wednesday, July 30th, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target suggests a potential upside of 9.46% from the company’s current price.

Other analysts have also recently issued reports about the company. BMO Capital Markets dropped their price target on Equity Lifestyle Properties from $78.00 to $77.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Compass Point upgraded Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, July 22nd. Morgan Stanley initiated coverage on Equity Lifestyle Properties in a research report on Tuesday, July 15th. They set a “positive” rating and a $67.50 price target on the stock. Barclays upgraded Equity Lifestyle Properties from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $70.00 to $67.00 in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company dropped their price target on Equity Lifestyle Properties from $82.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

Equity Lifestyle Properties Trading Up 1.1%

Shares of NYSE ELS opened at $62.12 on Wednesday. The stock’s 50 day moving average price is $61.93 and its two-hundred day moving average price is $64.42. Equity Lifestyle Properties has a 52-week low of $58.15 and a 52-week high of $76.60. The stock has a market capitalization of $12.04 billion, a P/E ratio of 32.19, a PEG ratio of 3.28 and a beta of 0.70. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.24.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.69. The business had revenue of $313.29 million for the quarter, compared to analysts’ expectations of $377.59 million. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. On average, analysts anticipate that Equity Lifestyle Properties will post 3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equity Lifestyle Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELS. Invesco Ltd. boosted its stake in Equity Lifestyle Properties by 592.7% during the 4th quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust’s stock valued at $260,955,000 after purchasing an additional 3,352,584 shares in the last quarter. Nuveen LLC bought a new position in Equity Lifestyle Properties during the 1st quarter valued at $142,937,000. Northern Trust Corp boosted its stake in Equity Lifestyle Properties by 43.3% during the 4th quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust’s stock valued at $162,162,000 after purchasing an additional 735,580 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Equity Lifestyle Properties by 15.1% during the 1st quarter. Victory Capital Management Inc. now owns 5,330,066 shares of the real estate investment trust’s stock valued at $355,515,000 after purchasing an additional 699,877 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Equity Lifestyle Properties by 221.2% during the 4th quarter. Millennium Management LLC now owns 975,391 shares of the real estate investment trust’s stock valued at $64,961,000 after purchasing an additional 671,703 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.