Bank of America Upgrades Equity Lifestyle Properties (NYSE:ELS) to Buy

Equity Lifestyle Properties (NYSE:ELS) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a $76.00 price target on the real estate investment trust’s stock. Bank of America‘s target price suggests a potential upside of 15.98% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Evercore ISI decreased their target price on shares of Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating for the company in a research report on Thursday, October 23rd. UBS Group set a $67.00 price target on shares of Equity Lifestyle Properties and gave the stock a “buy” rating in a report on Thursday, January 8th. Truist Financial set a $66.00 target price on Equity Lifestyle Properties and gave the company a “hold” rating in a research report on Tuesday, January 20th. Barclays reissued an “overweight” rating and issued a $68.00 price target on shares of Equity Lifestyle Properties in a research note on Tuesday, January 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Equity Lifestyle Properties in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Equity Lifestyle Properties has an average rating of “Moderate Buy” and a consensus target price of $69.96.

Equity Lifestyle Properties Stock Performance

Shares of Equity Lifestyle Properties stock opened at $65.53 on Tuesday. Equity Lifestyle Properties has a one year low of $58.15 and a one year high of $70.35. The company has a 50-day simple moving average of $61.91 and a two-hundred day simple moving average of $61.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.05 and a current ratio of 0.04. The company has a market capitalization of $12.70 billion, a PE ratio of 32.60, a P/E/G ratio of 3.75 and a beta of 0.76.

Hedge Funds Weigh In On Equity Lifestyle Properties

Several hedge funds have recently added to or reduced their stakes in ELS. GoalVest Advisory LLC purchased a new stake in Equity Lifestyle Properties in the 4th quarter valued at $25,000. Wiser Advisor Group LLC purchased a new position in Equity Lifestyle Properties during the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Equity Lifestyle Properties by 943.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 453 shares during the period. Fulcrum Asset Management LLP acquired a new stake in Equity Lifestyle Properties in the third quarter valued at $34,000. Finally, Bessemer Group Inc. lifted its stake in shares of Equity Lifestyle Properties by 126.9% in the third quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 321 shares during the period. 97.21% of the stock is currently 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.