Equity LifeStyle Properties (NYSE:ELS) Rating Reiterated by Royal Bank of Canada

Equity LifeStyle Properties (NYSE:ELS)‘s stock had its “sector perform” rating restated by analysts at Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They currently have a $68.00 price target on the real estate investment trust’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 1.89% from the stock’s current price.

ELS has been the subject of several other research reports. Truist Financial reduced their price target on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Barclays cut their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Finally, Evercore ISI raised their target price on Equity LifeStyle Properties from $69.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Hold” and an average price target of $68.39.

Equity LifeStyle Properties Price Performance

NYSE ELS traded up $0.40 during trading hours on Wednesday, reaching $66.74. The company’s stock had a trading volume of 251,560 shares, compared to its average volume of 1,227,489. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03. Equity LifeStyle Properties has a 1-year low of $59.82 and a 1-year high of $74.04. The company’s 50-day moving average is $64.06 and its two-hundred day moving average is $64.84. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 3.99 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS) last announced its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The business had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.73%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.66 EPS. On average, equities analysts predict that Equity LifeStyle Properties will post 2.9 EPS for the current year.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several hedge funds and other institutional investors have recently bought and sold shares of ELS. Wellington Management Group LLP grew its stake in shares of Equity LifeStyle Properties by 0.3% in the 4th quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock valued at $4,224,000 after buying an additional 155 shares during the period. Donoghue Forlines LLC raised its position in Equity LifeStyle Properties by 2.3% in the fourth quarter. Donoghue Forlines LLC now owns 7,195 shares of the real estate investment trust’s stock valued at $508,000 after purchasing an additional 160 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Equity LifeStyle Properties by 4.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 177 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Equity LifeStyle Properties by 40.5% in the 4th quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 182 shares during the last quarter. Finally, Naviter Wealth LLC grew its holdings in shares of Equity LifeStyle Properties by 1.6% during the 1st quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock worth $805,000 after purchasing an additional 192 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

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.