Equity Lifestyle Properties, Inc. (ELS) Lowered to Neutral at Robert W. Baird
Equity Lifestyle Properties, Inc. (NYSE:ELS) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Friday, MarketBeat Ratings reports. They presently have a $92.00 price objective on the real estate investment trust’s stock. Robert W. Baird’s price objective points to a potential upside of 6.69% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. BidaskClub upgraded shares of Equity Lifestyle Properties from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $81.00 price target (up previously from $75.00) on shares of Equity Lifestyle Properties in a research report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $87.75.
Shares of Equity Lifestyle Properties (NYSE ELS) traded down 4.62% during mid-day trading on Friday, hitting $86.23. The stock had a trading volume of 1,561,934 shares. Equity Lifestyle Properties has a 1-year low of $65.87 and a 1-year high of $90.80. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 42.79 and a beta of 0.32. The stock’s 50-day moving average is $87.78 and its 200 day moving average is $83.45.
Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. The company had revenue of $221.30 million for the quarter, compared to analysts’ expectations of $209.80 million. During the same quarter in the previous year, the company earned $0.75 earnings per share. Equity Lifestyle Properties’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts predict that Equity Lifestyle Properties will post $2.14 EPS for the current fiscal year.
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In related news, Chairman Samuel Zell purchased 805,333 shares of Equity Lifestyle Properties stock in a transaction that occurred on Friday, July 21st. The shares were bought 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 Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capstone Asset Management Co. purchased a new stake in Equity Lifestyle Properties in the first quarter worth about $207,000. Profund Advisors LLC grew its holdings in Equity Lifestyle Properties by 0.3% in the first quarter. Profund Advisors LLC now owns 3,199 shares of the real estate investment trust’s stock worth $247,000 after purchasing an additional 8 shares during the period. Wells Fargo & Company MN grew its holdings in Equity Lifestyle Properties by 1.8% in the first quarter. Wells Fargo & Company MN now owns 42,579 shares of the real estate investment trust’s stock worth $3,281,000 after purchasing an additional 756 shares during the period. Canada Pension Plan Investment Board grew its holdings in Equity Lifestyle Properties by 66.7% in the first quarter. Canada Pension Plan Investment Board now owns 10,000 shares of the real estate investment trust’s stock worth $771,000 after purchasing an additional 4,000 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Equity Lifestyle Properties by 1.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,559 shares of the real estate investment trust’s stock worth $968,000 after purchasing an additional 149 shares during the period. Institutional investors own 95.67% 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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