Equity LifeStyle Properties (NYSE:ELS – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, Zacks.com reports. The firm currently has a $83.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 14.66% from the stock’s previous close.
According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “
A number of other research firms also recently weighed in on ELS. Truist Financial initiated coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, May 10th. They issued a “buy” rating and a $78.00 price target on the stock. StockNews.com initiated coverage on shares of Equity LifeStyle Properties in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $85.67.
Shares of NYSE:ELS traded down $1.72 on Monday, reaching $72.39. 881,507 shares of the company traded hands, compared to its average volume of 916,023. Equity LifeStyle Properties has a fifty-two week low of $67.57 and a fifty-two week high of $88.70. The company’s 50 day moving average is $76.10 and its 200-day moving average is $78.38. The stock has a market capitalization of $13.47 billion, a PE ratio of 47.63, a P/E/G ratio of 5.32 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.
Equity LifeStyle Properties (NYSE:ELS – Get Rating) last released its earnings results on Monday, April 18th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.25). The business had revenue of $360.20 million during the quarter, compared to analysts’ expectations of $305.59 million. Equity LifeStyle Properties had a net margin of 20.97% and a return on equity of 19.91%. Equity LifeStyle Properties’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. As a group, analysts expect that Equity LifeStyle Properties will post 2.76 EPS for the current year.
Several large investors have recently modified their holdings of ELS. DigitalBridge Group Inc. grew its position in shares of Equity LifeStyle Properties by 4,120.9% in the first quarter. DigitalBridge Group Inc. now owns 6,922,340 shares of the real estate investment trust’s stock valued at $21,421,000 after purchasing an additional 6,758,340 shares during the last quarter. Norges Bank acquired a new stake in shares of Equity LifeStyle Properties in the fourth quarter valued at about $287,372,000. Invesco Ltd. grew its position in shares of Equity LifeStyle Properties by 147.1% in the first quarter. Invesco Ltd. now owns 2,541,777 shares of the real estate investment trust’s stock valued at $194,396,000 after purchasing an additional 1,512,944 shares during the last quarter. State Street Corp grew its position in shares of Equity LifeStyle Properties by 13.0% in the first quarter. State Street Corp now owns 8,817,442 shares of the real estate investment trust’s stock valued at $677,864,000 after purchasing an additional 1,016,542 shares during the last quarter. Finally, Man Group plc grew its position in shares of Equity LifeStyle Properties by 76.4% in the third quarter. Man Group plc now owns 1,480,536 shares of the real estate investment trust’s stock valued at $115,630,000 after purchasing an additional 641,388 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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