Royal Bank of Canada Cuts Equity LifeStyle Properties (NYSE:ELS) Price Target to $68.00

Equity LifeStyle Properties (NYSE:ELS) had its price target dropped by stock analysts at Royal Bank of Canada from $69.00 to $68.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective points to a potential upside of 3.13% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Robert W. Baird raised their price target on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday. Truist Financial upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their target price for the stock from $72.00 to $80.00 in a report on Thursday, January 2nd. Evercore ISI dropped their price target on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their price target for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Equity LifeStyle Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.90.

Equity LifeStyle Properties Price Performance

Shares of ELS stock traded down $0.67 during trading hours on Wednesday, reaching $65.94. The company had a trading volume of 387,786 shares, compared to its average volume of 1,383,385. The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 3.28 and a beta of 0.79. Equity LifeStyle Properties has a 12-month low of $59.82 and a 12-month high of $76.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a fifty day moving average of $67.89 and a 200-day moving average of $69.58.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. On average, equities analysts anticipate that Equity LifeStyle Properties will post 2.92 earnings per share for the current year.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several institutional investors and hedge funds have recently bought and sold shares of ELS. Moran Wealth Management LLC boosted its stake in shares of Equity LifeStyle Properties by 0.8% in 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 buying an additional 143 shares during the last quarter. V Square Quantitative Management LLC grew its position in Equity LifeStyle Properties by 31.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 146 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Equity LifeStyle Properties by 43.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 171 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Equity LifeStyle Properties by 14.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,093 shares of the real estate investment trust’s stock worth $149,000 after purchasing an additional 269 shares during the period. Finally, Procyon Advisors LLC grew its holdings in Equity LifeStyle Properties by 7.9% in the third quarter. Procyon Advisors LLC now owns 3,814 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 278 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.