Zacks Investment Research Upgrades Equity Lifestyle Properties, Inc. (ELS) to “Buy”
Equity Lifestyle Properties, Inc. (NYSE:ELS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $97.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.49% from the company’s current price.
According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “
A number of other equities research analysts have also recently commented on ELS. BidaskClub raised Equity Lifestyle Properties from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Cantor Fitzgerald reiterated a “neutral” rating and set a $81.00 price target (up from $75.00) on shares of Equity Lifestyle Properties in a report on Saturday, July 22nd. Finally, Robert W. Baird lowered Equity Lifestyle Properties from an “outperform” rating to a “neutral” rating and set a $92.00 price target on the stock. in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Equity Lifestyle Properties presently has a consensus rating of “Hold” and an average price target of $86.75.
Equity Lifestyle Properties (NYSE:ELS) traded up 1.00% during trading on Thursday, hitting $87.79. The stock had a trading volume of 439,645 shares. Equity Lifestyle Properties has a 52 week low of $65.87 and a 52 week high of $90.80. The company has a 50-day moving average of $87.85 and a 200 day moving average of $83.72. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 43.57 and a beta of 0.32.
Equity Lifestyle Properties (NYSE:ELS) last released its earnings results on Monday, July 17th. The real estate investment trust reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. Equity Lifestyle Properties had a return on equity of 20.64% and a net margin of 22.00%. The business had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $209.80 million. During the same quarter last year, the firm posted $0.75 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Equity Lifestyle Properties will post $2.14 EPS for the current year.
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In related news, Chairman Samuel Zell bought 805,333 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was bought at an average cost of $87.43 per share, for a total transaction of $70,410,264.19. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.10% of the company’s stock.
Large investors have recently made changes to their positions in the company. Macquarie Group Ltd. raised its position in shares of Equity Lifestyle Properties by 3.2% in the 1st quarter. Macquarie Group Ltd. now owns 356,050 shares of the real estate investment trust’s stock worth $27,437,000 after acquiring an additional 10,912 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Equity Lifestyle Properties by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 221,777 shares of the real estate investment trust’s stock worth $19,148,000 after buying an additional 27,582 shares during the last quarter. UBS Group AG grew its stake in shares of Equity Lifestyle Properties by 40.9% in the 1st quarter. UBS Group AG now owns 12,485 shares of the real estate investment trust’s stock worth $962,000 after buying an additional 3,625 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Equity Lifestyle Properties by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,493,430 shares of the real estate investment trust’s stock worth $962,743,000 after buying an additional 312,465 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Equity Lifestyle Properties by 4,674.0% in the 1st quarter. BlackRock Inc. now owns 6,050,846 shares of the real estate investment trust’s stock worth $466,277,000 after buying an additional 5,924,100 shares during the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.
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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