Equity Lifestyle Properties (NYSE:ELS) Raised to Strong-Buy at Jefferies Financial Group

Equity Lifestyle Properties (NYSE:ELS) was upgraded by investment analysts at Jefferies Financial Group to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings cut Equity Lifestyle Properties from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Odeon Capital Group set a $65.00 price target on Equity Lifestyle Properties in a research report on Thursday, July 9th. Mizuho reissued a “neutral” rating and issued a $65.00 price target (down from $72.00) on shares of Equity Lifestyle Properties in a report on Monday, September 21st. UBS Group reduced their price objective on Equity Lifestyle Properties from $76.00 to $67.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Finally, Evercore set a $68.00 price objective on Equity Lifestyle Properties in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Equity Lifestyle Properties currently has a consensus rating of “Hold” and a consensus target price of $67.88.

Equity Lifestyle Properties Stock Performance

Shares of ELS opened at $59.00 on Monday. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. The stock has a market cap of $11.45 billion, a P/E ratio of 28.36, a PEG ratio of 3.51 and a beta of 0.63. The company has a 50-day moving average of $61.92 and a two-hundred day moving average of $63.10. Equity Lifestyle Properties has a 12-month low of $57.46 and a 12-month high of $69.00.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.22). The business had revenue of $397.81 million during the quarter, compared to analysts’ expectations of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS. As a group, research analysts predict that Equity Lifestyle Properties will post 3.20 EPS for the current fiscal year.

Institutional Trading of Equity Lifestyle Properties

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Equity Lifestyle Properties in the 2nd quarter valued at about $1,576,449,000. Principal Financial Group Inc. increased its position in Equity Lifestyle Properties by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 6,435,365 shares of the real estate investment trust’s stock worth $401,698,000 after purchasing an additional 66,772 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Equity Lifestyle Properties by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,806,080 shares of the real estate investment trust’s stock worth $175,156,000 after purchasing an additional 19,256 shares in the last quarter. Bank of America Corp DE increased its position in Equity Lifestyle Properties by 24.4% during the 1st quarter. Bank of America Corp DE now owns 1,980,918 shares of the real estate investment trust’s stock worth $123,649,000 after purchasing an additional 388,806 shares in the last quarter. Finally, Resolution Capital Ltd increased its position in Equity Lifestyle Properties by 3.3% during the 1st quarter. Resolution Capital Ltd now owns 1,885,292 shares of the real estate investment trust’s stock worth $117,680,000 after purchasing an additional 59,809 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns and operates manufactured home communities, recreational vehicle resorts and marinas. Its properties provide residential sites for manufactured homes and park model homes, as well as vacation-oriented accommodations and facilities for RV owners and boaters.

The company serves a range of residents and travelers through long-term manufactured housing communities, seasonal and transient RV resorts, and marina properties.