Zacks Investment Research Lowers Equity Lifestyle Properties, Inc. (ELS) to Hold
Equity Lifestyle Properties, Inc. (NYSE:ELS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “
Several other brokerages also recently commented on ELS. BidaskClub upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating in a research note on Tuesday. Cantor Fitzgerald restated a “neutral” rating and issued a $81.00 target price (up from $75.00) on shares of Equity Lifestyle Properties in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $83.50.
Equity Lifestyle Properties (NYSE:ELS) traded up 0.95% during midday trading on Wednesday, hitting $89.15. The stock had a trading volume of 454,947 shares. The firm has a market cap of $7.76 billion, a P/E ratio of 44.24 and a beta of 0.31. The stock has a 50-day moving average of $86.63 and a 200-day moving average of $82.38. Equity Lifestyle Properties has a 52 week low of $65.87 and a 52 week high of $89.50.
Equity Lifestyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 17th. The real estate investment trust reported $0.81 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $221.30 million during the quarter, compared to the consensus estimate of $209.80 million. Equity Lifestyle Properties had a return on equity of 20.64% and a net margin of 22.00%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $0.75 EPS. Analysts forecast that Equity Lifestyle Properties will post $2.13 EPS for the current fiscal year.
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In related news, Chairman Samuel Zell purchased 805,333 shares of the business’s stock in a transaction on Friday, July 21st. The stock was acquired at an average price of $87.43 per share, for a total transaction of $70,410,264.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.10% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in ELS. Advisor Group Inc. increased its position in Equity Lifestyle Properties by 9.2% in the second quarter. Advisor Group Inc. now owns 1,489 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 125 shares during the period. Pacad Investment Ltd. bought a new position in Equity Lifestyle Properties during the second quarter worth about $155,000. Parallel Advisors LLC increased its position in Equity Lifestyle Properties by 5.7% in the first quarter. Parallel Advisors LLC now owns 2,162 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 117 shares during the period. Menta Capital LLC bought a new position in Equity Lifestyle Properties during the first quarter worth about $200,000. Finally, Sit Investment Associates Inc. increased its position in Equity Lifestyle Properties by 103.8% in the first quarter. Sit Investment Associates Inc. now owns 2,650 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 1,350 shares during the period. Institutional investors and hedge funds own 96.73% of the company’s stock.
About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (properties) consisting primarily of manufactured home (MH) communities and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations and Home Sales and Rentals Operations.
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