Equity LifeStyle Properties (NYSE:ELS) PT Raised to $76.00 at Evercore ISI

Equity LifeStyle Properties (NYSE:ELS) had its price objective boosted by equities research analysts at Evercore ISI from $73.00 to $76.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective would indicate a potential upside of 0.24% from the company’s current price.

A number of other brokerages also recently weighed in on ELS. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Truist Financial increased their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Equity LifeStyle Properties currently has a consensus rating of “Hold” and an average price target of $69.25.

Equity LifeStyle Properties Stock Down 0.6 %

Equity LifeStyle Properties stock traded down $0.43 during midday trading on Monday, hitting $75.82. The stock had a trading volume of 132,787 shares, compared to its average volume of 1,179,939. The business has a fifty day moving average price of $70.08 and a 200 day moving average price of $65.81. Equity LifeStyle Properties has a 12 month low of $59.82 and a 12 month high of $76.60. The stock has a market cap of $14.14 billion, a P/E ratio of 41.39, a P/E/G ratio of 4.32 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm had revenue of $380.00 million during the quarter, compared to the consensus estimate of $334.53 million. During the same quarter last year, the firm posted $0.66 earnings per share. Equity LifeStyle Properties’s revenue was up 2.7% compared to the same quarter last year. Research analysts predict that Equity LifeStyle Properties will post 2.91 EPS for the current year.

Insider Buying and Selling at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equity LifeStyle Properties

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Equity LifeStyle Properties by 1.0% during the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock worth $1,614,469,000 after purchasing an additional 240,853 shares during the period. Norges Bank acquired a new stake in Equity LifeStyle Properties during the 4th quarter worth about $455,623,000. Victory Capital Management Inc. raised its holdings in Equity LifeStyle Properties by 7.8% during the 2nd quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock worth $300,237,000 after buying an additional 331,945 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Equity LifeStyle Properties by 5.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock valued at $209,630,000 after buying an additional 153,715 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of Equity LifeStyle Properties by 4.2% in the first quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock worth $183,035,000 after buying an additional 113,891 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.