Equity Lifestyle Properties (NYSE:ELS) Stock Rating Upgraded by 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 report issued on Friday,Zacks.com reports.

Several other brokerages have also recently weighed in on ELS. Truist Financial set a $67.00 target price on Equity Lifestyle Properties and gave the company a “hold” rating in a report on Tuesday, May 5th. Mizuho initiated coverage on Equity Lifestyle Properties in a research note on Tuesday, March 31st. They issued an “outperform” rating and a $72.00 price target on the stock. Robert W. Baird boosted their price objective on Equity Lifestyle Properties from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Zelman & Associates initiated coverage on Equity Lifestyle Properties in a research note on Monday, March 16th. They set an “underperform” rating and a $59.25 price objective for the company. Finally, Barclays cut their target price on shares of Equity Lifestyle Properties from $71.00 to $68.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.20.

Equity Lifestyle Properties Stock Performance

Equity Lifestyle Properties stock opened at $64.35 on Friday. The firm has a fifty day simple moving average of $63.02 and a two-hundred day simple moving average of $63.66. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29. Equity Lifestyle Properties has a twelve month low of $58.15 and a twelve month high of $69.00. The company has a market capitalization of $12.48 billion, a PE ratio of 32.18, a P/E/G ratio of 3.83 and a beta of 0.67.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. Research analysts expect that Equity Lifestyle Properties will post 3.18 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ELS. Pacer Advisors Inc. grew its holdings in Equity Lifestyle Properties by 2.9% in the first quarter. Pacer Advisors Inc. now owns 30,338 shares of the real estate investment trust’s stock worth $1,894,000 after purchasing an additional 844 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Equity Lifestyle Properties by 9.5% during the first quarter. Parallel Advisors LLC now owns 3,209 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 278 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Equity Lifestyle Properties by 655,333.3% during the first quarter. NewEdge Advisors LLC now owns 58,989 shares of the real estate investment trust’s stock valued at $3,682,000 after purchasing an additional 58,980 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Equity Lifestyle Properties in the 1st quarter worth approximately $217,000. Finally, Bank of America Corp DE boosted its position in shares of Equity Lifestyle Properties by 24.4% in 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. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Company Profile

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.