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

Equity Lifestyle Properties (NYSE:ELS) had its price objective lowered by research analysts at Truist Financial from $71.00 to $68.00 in a report released on Wednesday, Marketbeat reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential upside of 13.48% from the company’s previous close.

A number of other research firms also recently commented on ELS. Wells Fargo & Company decreased their target price on Equity Lifestyle Properties from $82.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, July 24th. Compass Point upgraded shares of Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Tuesday, July 22nd. Barclays upgraded shares of Equity Lifestyle Properties from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $70.00 to $67.00 in a research note on Tuesday. BMO Capital Markets decreased their target price on shares of Equity Lifestyle Properties from $78.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group initiated coverage on Equity Lifestyle Properties in a research report on Tuesday, April 8th. They set a “buy” rating and a $80.00 price target on the stock. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.50.

Equity Lifestyle Properties Trading Up 2.3%

NYSE ELS opened at $59.92 on Wednesday. The company has a fifty day simple moving average of $62.08 and a two-hundred day simple moving average of $64.51. The stock has a market cap of $11.61 billion, a P/E ratio of 31.05, a P/E/G ratio of 3.13 and a beta of 0.72. Equity Lifestyle Properties has a 12-month low of $58.15 and a 12-month high of $76.60. 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 (NYSE:ELS) last released its earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.69. The firm had revenue of $313.29 million for the quarter, compared to the consensus estimate of $377.59 million. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%. The firm’s 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 forecast that Equity Lifestyle Properties will post 3.07 earnings per share for the current year.

Insider Transactions at Equity Lifestyle Properties

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

Institutional Investors Weigh In On Equity Lifestyle Properties

A number of institutional investors have recently added to or reduced their stakes in ELS. Farther Finance Advisors LLC lifted its holdings in Equity Lifestyle Properties by 12.3% during 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. raised its position in shares of Equity Lifestyle Properties by 2.6% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 7,995 shares of the real estate investment trust’s stock worth $533,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC lifted its stake in Equity Lifestyle Properties by 10.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,069 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 201 shares in the last quarter. Xponance Inc. boosted its holdings in Equity Lifestyle Properties by 0.7% in the 1st quarter. Xponance Inc. now owns 31,133 shares of the real estate investment trust’s stock worth $2,077,000 after buying an additional 203 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Equity Lifestyle Properties by 121.4% during the 4th quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

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.