Equity LifeStyle Properties (NYSE:ELS) Stock Rating Upgraded by Wells Fargo & Company

Equity LifeStyle Properties (NYSE:ELS) was upgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a $82.00 price target on the real estate investment trust’s stock, up from their previous price target of $70.50. Wells Fargo & Company‘s price objective would indicate a potential upside of 11.58% from the stock’s current price.

Several other brokerages have also recently weighed in on ELS. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Evercore ISI raised their price target on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday. Finally, Truist Financial boosted their price target on shares of 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 three have given a buy rating to the company’s stock. According to MarketBeat.com, Equity LifeStyle Properties presently has an average rating of “Hold” and a consensus price target of $70.67.

Equity LifeStyle Properties Trading Down 1.3 %

ELS opened at $73.49 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The company’s 50 day moving average price is $70.70 and its two-hundred day moving average price is $65.97. The firm has a market capitalization of $13.71 billion, a price-to-earnings ratio of 40.16, a PEG ratio of 4.32 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 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 analyst estimates of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. Equity LifeStyle Properties’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. As a group, research analysts predict that Equity LifeStyle Properties will post 2.91 earnings per share for the current year.

Insider Transactions at Equity LifeStyle Properties

In related news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at $19,705,886.72. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Equity LifeStyle Properties

A number of institutional investors have recently added to or reduced their stakes in ELS. PGGM Investments boosted its stake in shares of Equity LifeStyle Properties by 4,586.1% in the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after buying an additional 1,804,156 shares during the last quarter. Principal Financial Group Inc. boosted its position in Equity LifeStyle Properties by 55.1% in the first quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock worth $97,357,000 after purchasing an additional 536,864 shares during the last quarter. ProShare Advisors LLC boosted its position in Equity LifeStyle Properties by 4,590.4% in the first quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after purchasing an additional 450,042 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Equity LifeStyle Properties by 569.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock valued at $32,235,000 after purchasing an additional 421,062 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock worth $22,321,000 after purchasing an additional 354,718 shares during the period. 97.21% of the stock is owned by institutional investors.

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.