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 report issued on Tuesday.
According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “
Other analysts have also recently issued reports about the stock. Cantor Fitzgerald restated a “hold” rating and set a $81.00 target price on shares of Equity Lifestyle Properties in a report on Monday, October 16th. BidaskClub cut shares of Equity Lifestyle Properties from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. BMO Capital Markets assumed coverage on shares of Equity Lifestyle Properties in a report on Monday, October 9th. They set a “market perform” rating and a $92.00 target price for the company. Robert W. Baird cut shares of Equity Lifestyle Properties from an “outperform” rating to a “neutral” rating and set a $92.00 target price for the company. in a report on Friday, September 8th. Finally, Citigroup Inc. raised their target price on shares of Equity Lifestyle Properties from $86.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $87.67.
Shares of Equity Lifestyle Properties (NYSE:ELS) traded up 0.97% during midday trading on Tuesday, hitting $87.82. The stock had a trading volume of 407,645 shares. The company has a market cap of $7.68 billion, a P/E ratio of 41.98 and a beta of 0.32. The firm has a 50 day moving average of $87.16 and a 200-day moving average of $85.58. Equity Lifestyle Properties has a one year low of $65.87 and a one year high of $90.80.
Equity Lifestyle Properties (NYSE:ELS) last issued its earnings results on Monday, October 16th. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.34). The business had revenue of $241.63 million for the quarter, compared to the consensus estimate of $226.85 million. Equity Lifestyle Properties had a return on equity of 21.39% and a net margin of 22.52%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 earnings per share. On average, analysts forecast that Equity Lifestyle Properties will post $2.15 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of ELS. Benjamin F. Edwards & Company acquired a new position in Equity Lifestyle Properties in the 4th quarter worth approximately $0. Advisor Group Inc. boosted its stake in Equity Lifestyle Properties by 9.2% in the 2nd quarter. Advisor Group Inc. now owns 1,489 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 125 shares during the period. Checchi Capital Advisers LLC boosted its stake in Equity Lifestyle Properties by 90.8% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,799 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 856 shares during the period. Parallel Advisors LLC acquired a new position in Equity Lifestyle Properties in the 4th quarter worth approximately $147,000. Finally, Pacad Investment Ltd. acquired a new position in Equity Lifestyle Properties in the 2nd quarter worth approximately $155,000. 95.74% 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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