Evercore ISI Increases Equity LifeStyle Properties (NYSE:ELS) Price Target to $77.00

Equity LifeStyle Properties (NYSE:ELS) had its target price raised by stock analysts at Evercore ISI from $76.00 to $77.00 in a research note issued 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 indicates a potential upside of 12.08% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price on the stock. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Truist Financial raised their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada restated a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Finally, Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.60.

Equity LifeStyle Properties Trading Up 1.0 %

Shares of Equity LifeStyle Properties stock opened at $68.70 on Monday. The firm has a market capitalization of $12.81 billion, a PE ratio of 37.54, a P/E/G ratio of 3.60 and a beta of 0.79. Equity LifeStyle Properties has a twelve month low of $59.82 and a twelve month high of $76.60. The firm’s 50-day moving average price is $71.19 and its 200 day moving average price is $66.78. 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, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The company had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts predict that Equity LifeStyle Properties will post 2.92 EPS for the current fiscal year.

Insider Activity

In other news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Patrick Waite sold 20,820 shares of the company’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 transaction, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,808 shares of company stock valued at $6,348,011. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELS. Vanguard Group Inc. lifted its holdings in shares of Equity LifeStyle Properties by 1.0% in the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock valued at $1,614,469,000 after purchasing an additional 240,853 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Equity LifeStyle Properties by 7.8% in the second quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock valued at $300,237,000 after purchasing an additional 331,945 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Equity LifeStyle Properties by 5.0% in 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 purchasing an additional 153,715 shares in the last quarter. Boston Partners lifted 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 valued at $183,035,000 after purchasing an additional 113,891 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Equity LifeStyle Properties by 7.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock valued at $176,250,000 after purchasing an additional 178,258 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

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.