Truist Financial Cuts Equity Lifestyle Properties (NYSE:ELS) Price Target to $68.00

Equity Lifestyle Properties (NYSE:ELS) had its target price reduced by equities research analysts at Truist Financial from $71.00 to $68.00 in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential upside of 12.80% from the stock’s previous close.

Several other brokerages have also issued reports on ELS. Wells Fargo & Company decreased their price target on shares of Equity Lifestyle Properties from $82.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, July 24th. BMO Capital Markets decreased their price target on shares of Equity Lifestyle Properties from $78.00 to $77.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on shares of Equity Lifestyle Properties in a report on Tuesday, April 8th. They set a “buy” rating and a $80.00 price target on the stock. Royal Bank Of Canada decreased their price target on shares of Equity Lifestyle Properties from $67.00 to $66.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 23rd. Finally, Compass Point raised shares of Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.50.

Equity Lifestyle Properties Price Performance

ELS stock traded up $0.37 during mid-day trading on Wednesday, hitting $60.29. The stock had a trading volume of 2,200,136 shares, compared to its average volume of 1,759,561. The company has a current ratio of 0.04, a quick ratio of 0.03 and a debt-to-equity ratio of 0.24. Equity Lifestyle Properties has a 52 week low of $58.15 and a 52 week high of $76.60. The firm has a market capitalization of $11.68 billion, a P/E ratio of 31.24, a P/E/G ratio of 3.20 and a beta of 0.70. The firm has a fifty day simple moving average of $62.02 and a 200 day simple moving average of $64.48.

Equity Lifestyle Properties (NYSE:ELS) last released its earnings results on Monday, July 21st. The real estate investment trust reported $0.69 EPS for the quarter, meeting the consensus estimate of $0.69. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. The firm had revenue of $313.29 million for the quarter, compared to analyst estimates of $377.59 million. During the same period last year, the firm earned $0.66 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, research analysts forecast that Equity Lifestyle Properties will post 3.07 EPS for the current year.

Insider Activity

In other news, CFO Paul Seavey sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total value of $647,200.00. Following the transaction, the chief financial officer owned 78,162 shares in the company, valued at approximately $5,058,644.64. The trade was a 11.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ELS. Farther Finance Advisors LLC increased its stake in Equity Lifestyle Properties by 12.3% in the second quarter. Farther Finance Advisors LLC now owns 1,620 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 178 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its stake in Equity Lifestyle Properties by 2.6% in the first quarter. Beese Fulmer Investment Management Inc. now owns 7,995 shares of the real estate investment trust’s stock valued at $533,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC increased its stake in Equity Lifestyle Properties by 10.8% in the second quarter. GAMMA Investing LLC now owns 2,069 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 201 shares in the last quarter. Xponance Inc. increased its stake in Equity Lifestyle Properties by 0.7% in the first quarter. Xponance Inc. now owns 31,133 shares of the real estate investment trust’s stock valued at $2,077,000 after purchasing an additional 203 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Equity Lifestyle Properties by 121.4% in the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 210 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 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.