Equity LifeStyle Properties (NYSE:ELS) Given “Buy” Rating at Truist Financial

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Equity LifeStyle Properties (NYSE:ELS – Get Rating)‘s stock had its “buy” rating restated by equities researchers at Truist Financial in a research report issued on Thursday, The Fly reports. They presently have a $77.00 price target on the real estate investment trust’s stock. Truist Financial’s price target would indicate a potential upside of 7.24% from the company’s current price.

Other analysts have also recently issued research reports about the company. Robert W. Baird reduced their price target on Equity LifeStyle Properties from $89.00 to $83.00 in a research report on Wednesday. StockNews.com initiated coverage on Equity LifeStyle Properties in a research report on Thursday, March 31st. They issued a “hold” rating for the company. BMO Capital Markets cut their target price on Equity LifeStyle Properties from $87.00 to $75.00 in a research report on Tuesday. Wolfe Research initiated coverage on Equity LifeStyle Properties in a research report on Friday, July 15th. They set a “peer perform” rating for the company. Finally, Colliers Securities set a $92.00 target price on Equity LifeStyle Properties in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.86.

Equity LifeStyle Properties Stock Up 0.7 %

ELS stock opened at $71.80 on Thursday. Equity LifeStyle Properties has a fifty-two week low of $67.57 and a fifty-two week high of $88.70. The business’s 50-day moving average is $72.32 and its two-hundred day moving average is $75.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market cap of $13.36 billion, a price-to-earnings ratio of 47.24, a P/E/G ratio of 5.06 and a beta of 0.60.

Equity LifeStyle Properties (NYSE:ELS – Get Rating) last posted its earnings results on Monday, July 18th. The real estate investment trust reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Equity LifeStyle Properties had a net margin of 20.28% and a return on equity of 19.46%. The firm had revenue of $365.31 million during the quarter, compared to the consensus estimate of $331.29 million. During the same period in the prior year, the company posted $0.61 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, analysts forecast that Equity LifeStyle Properties will post 2.76 earnings per share for the current year.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Equity LifeStyle Properties by 1.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,697,467 shares of the real estate investment trust’s stock valued at $129,822,000 after purchasing an additional 19,795 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Equity LifeStyle Properties by 8.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 56,526 shares of the real estate investment trust’s stock valued at $4,955,000 after purchasing an additional 4,376 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Equity LifeStyle Properties by 90.7% in the 4th quarter. Invesco Ltd. now owns 1,028,833 shares of the real estate investment trust’s stock valued at $90,187,000 after purchasing an additional 489,424 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Equity LifeStyle Properties by 12.2% in the 4th quarter. CIBC Asset Management Inc now owns 8,143 shares of the real estate investment trust’s stock valued at $714,000 after purchasing an additional 884 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new stake in shares of Equity LifeStyle Properties in the 4th quarter valued at approximately $208,000. Hedge funds and other institutional investors own 90.90% of the company’s stock.

Equity LifeStyle Properties Company Profile

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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.