Equity LifeStyle Properties (NYSE:ELS) Price Target Increased to $76.00 by Analysts at Evercore ISI

Equity LifeStyle Properties (NYSE:ELS) had its price target boosted by analysts at Evercore ISI from $73.00 to $76.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would suggest a potential upside of 2.10% from the company’s previous close.

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

Equity LifeStyle Properties Stock Down 1.2 %

ELS opened at $74.44 on Monday. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 4.32 and a beta of 0.79. The firm has a 50 day moving average price of $70.31 and a 200-day moving average price of $65.86. Equity LifeStyle Properties has a twelve month low of $59.82 and a twelve month high of $76.60. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34.

Equity LifeStyle Properties (NYSE:ELS) last posted its 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 company had revenue of $380.00 million during the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. Equities research analysts forecast that Equity LifeStyle Properties will post 2.91 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Equity LifeStyle Properties

A number of institutional investors and hedge funds have recently bought and sold shares of ELS. Norges Bank bought a new stake in Equity LifeStyle Properties during the fourth quarter valued at about $455,623,000. PGGM Investments grew its holdings in shares of Equity LifeStyle Properties by 4,586.1% in the second quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after purchasing an additional 1,804,156 shares during the last quarter. Principal Financial Group Inc. increased its stake in Equity LifeStyle Properties by 55.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock worth $97,357,000 after buying an additional 536,864 shares during the period. ProShare Advisors LLC lifted its holdings in Equity LifeStyle Properties by 4,590.4% during the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock valued at $29,614,000 after buying an additional 450,042 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Equity LifeStyle Properties by 569.9% during the second quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock valued at $32,235,000 after acquiring an additional 421,062 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

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.