Barclays Reaffirms Equal Weight Rating for Equity Lifestyle Properties (NYSE:ELS)

Equity Lifestyle Properties (NYSE:ELS)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Barclays in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $68.00 price objective on the real estate investment trust’s stock. Barclays‘s price objective would indicate a potential upside of 4.62% from the company’s previous close.

Other analysts have also issued research reports about the stock. Robert W. Baird lifted their price objective on shares of Equity Lifestyle Properties from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Truist Financial set a $67.00 target price on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a research note on Tuesday, May 5th. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a report on Friday, June 26th. Odeon Capital Group set a $65.00 price objective on shares of Equity Lifestyle Properties in a report on Thursday. Finally, Odean Cap Resea raised shares of Equity Lifestyle Properties to a “hold” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Equity Lifestyle Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.92.

Equity Lifestyle Properties Trading Up 2.4%

Shares of ELS opened at $65.00 on Tuesday. The stock’s 50-day moving average is $63.25 and its two-hundred day moving average is $63.93. The stock has a market cap of $12.61 billion, a PE ratio of 32.50, a P/E/G ratio of 3.86 and a beta of 0.66. Equity Lifestyle Properties has a 12 month low of $58.15 and a 12 month high of $69.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.04 and a quick ratio of 0.04.

Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.28). The company had revenue of $397.62 million during the quarter, compared to analyst estimates of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. Equity Lifestyle Properties’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. Equities analysts forecast that Equity Lifestyle Properties will post 3.18 earnings per share for the current fiscal year.

Institutional Trading of Equity Lifestyle Properties

Several institutional investors have recently added to or reduced their stakes in ELS. Empowered Funds LLC grew its stake in Equity Lifestyle Properties by 14.1% in the first quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock worth $435,000 after purchasing an additional 804 shares in the last quarter. Jane Street Group LLC lifted its holdings in Equity Lifestyle Properties by 598.5% during the 1st quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock worth $7,964,000 after buying an additional 102,303 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Equity Lifestyle Properties by 62.3% during the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust’s stock worth $1,542,000 after buying an additional 8,873 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Equity Lifestyle Properties by 111.0% in the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 5,325 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Equity Lifestyle Properties in the 2nd quarter worth approximately $300,000. 97.21% of the stock is owned by institutional investors and hedge funds.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.