Equity Lifestyle Properties (NYSE:ELS) Downgraded by Wall Street Zen to “Sell”

Equity Lifestyle Properties (NYSE:ELS) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other brokerages have also recently issued reports on ELS. Truist Financial set a $66.00 target price on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Tuesday. Wells Fargo & Company cut their price objective on Equity Lifestyle Properties from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. UBS Group set a $67.00 target price on Equity Lifestyle Properties and gave the company a “buy” rating in a research note on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Equity Lifestyle Properties in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group raised Equity Lifestyle Properties to a “strong-buy” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.46.

Equity Lifestyle Properties Stock Performance

Shares of ELS stock opened at $64.07 on Friday. The stock has a fifty day moving average price of $61.76 and a 200 day moving average price of $61.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market cap of $12.42 billion, a PE ratio of 32.19, a P/E/G ratio of 3.57 and a beta of 0.77. Equity Lifestyle Properties has a 1 year low of $58.15 and a 1 year high of $70.35.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. The business had revenue of $393.31 million during the quarter, compared to analysts’ expectations of $389.39 million. Equity Lifestyle Properties had a return on equity of 20.99% and a net margin of 24.97%.The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. Sell-side analysts forecast that Equity Lifestyle Properties will post 3.07 earnings per share for the current fiscal year.

Institutional Trading of Equity Lifestyle Properties

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in shares of Equity Lifestyle Properties by 12.3% in the second quarter. Farther Finance Advisors LLC now owns 1,620 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 178 shares during the period. Private Advisor Group LLC lifted its position in Equity Lifestyle Properties by 3.7% during the 3rd quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 178 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Equity Lifestyle Properties by 10.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,069 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 201 shares during the period. Moran Wealth Management LLC grew its position in Equity Lifestyle Properties by 1.2% in the second quarter. Moran Wealth Management LLC now owns 17,995 shares of the real estate investment trust’s stock valued at $1,110,000 after acquiring an additional 220 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Equity Lifestyle Properties by 1.6% during the third quarter. Crossmark Global Holdings Inc. now owns 14,229 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 220 shares during the period. 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.