Equity Lifestyle Properties (NYSE:ELS) Upgraded by Bank of America to “Buy” Rating

Bank of America upgraded shares of Equity Lifestyle Properties (NYSE:ELS) from a neutral rating to a buy rating in a report released on Tuesday morning, MarketBeat Ratings reports. They currently have $76.00 target price on the real estate investment trust’s stock.

ELS has been the topic of a number of other reports. Wall Street Zen raised shares of Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a report on Sunday. Royal Bank Of Canada restated an “outperform” rating and set a $70.00 price target on shares of Equity Lifestyle Properties in a report on Friday, January 30th. Zacks Research lowered shares of Equity Lifestyle Properties from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Evercore ISI cut their target price on Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating on the stock in a research note on Thursday, October 23rd. Finally, Robert W. Baird set a $73.00 price target on Equity Lifestyle Properties in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Equity Lifestyle Properties has an average rating of “Moderate Buy” and a consensus price target of $69.96.

Equity Lifestyle Properties Stock Performance

Shares of Equity Lifestyle Properties stock opened at $64.05 on Tuesday. Equity Lifestyle Properties has a 52 week low of $58.15 and a 52 week high of $70.35. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $61.85 and a 200-day moving average price of $61.35. The company has a market cap of $12.41 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 3.70 and a beta of 0.76.

Institutional Trading of Equity Lifestyle Properties

Several hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Equity Lifestyle Properties by 114.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,375,154 shares of the real estate investment trust’s stock worth $326,272,000 after acquiring an additional 2,868,678 shares during the period. Norges Bank purchased a new stake in Equity Lifestyle Properties during the second quarter valued at about $164,862,000. Daiwa Securities Group Inc. boosted its position in Equity Lifestyle Properties by 253.7% during the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock worth $191,025,000 after purchasing an additional 2,257,299 shares during the period. Centersquare Investment Management LLC increased its stake in shares of Equity Lifestyle Properties by 2,448.8% in the third quarter. Centersquare Investment Management LLC now owns 1,963,378 shares of the real estate investment trust’s stock worth $119,177,000 after purchasing an additional 1,886,348 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Equity Lifestyle Properties by 32.5% in the third quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock worth $414,194,000 after purchasing an additional 1,674,281 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.