Equity LifeStyle Properties (NYSE:ELS) Price Target Raised to $71.00

Equity LifeStyle Properties (NYSE:ELS) had its price target increased by stock analysts at Truist Financial from $70.00 to $71.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price would suggest a potential downside of 1.78% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Evercore ISI boosted their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Robert W. Baird raised their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Compass Point upped their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

Equity LifeStyle Properties Price Performance

ELS traded down $0.22 during midday trading on Tuesday, reaching $72.29. 381,751 shares of the company’s stock were exchanged, compared to its average volume of 1,207,503. Equity LifeStyle Properties has a 1-year low of $59.82 and a 1-year high of $76.60. The stock has a market capitalization of $13.81 billion, a PE ratio of 37.26, a P/E/G ratio of 3.90 and a beta of 0.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. The business’s 50-day moving average price is $70.88 and its 200 day moving average price is $67.56.

Equity LifeStyle Properties (NYSE:ELS) last announced its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The company had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. During the same quarter last year, the company posted $0.71 EPS. Equity LifeStyle Properties’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that Equity LifeStyle Properties will post 2.9 EPS for the current fiscal year.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total value of $2,393,662.04. Following the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock valued at $6,348,011 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. grew its stake in shares of Equity LifeStyle Properties by 16.7% during the third quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust’s stock valued at $15,210,000 after acquiring an additional 30,489 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Equity LifeStyle Properties by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,441,191 shares of the real estate investment trust’s stock valued at $174,155,000 after purchasing an additional 87,609 shares during the last quarter. L & S Advisors Inc grew its stake in Equity LifeStyle Properties by 28.9% during the 3rd quarter. L & S Advisors Inc now owns 124,617 shares of the real estate investment trust’s stock valued at $8,890,000 after purchasing an additional 27,917 shares in the last quarter. Moran Wealth Management LLC increased its holdings in Equity LifeStyle Properties by 0.8% during the 3rd quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust’s stock worth $1,264,000 after purchasing an additional 143 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board increased its holdings in Equity LifeStyle Properties by 439.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 33,984 shares of the real estate investment trust’s stock worth $2,424,000 after purchasing an additional 27,685 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

About Equity LifeStyle Properties

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.