Equity Lifestyle Properties (NYSE:ELS) Rating Lowered to Sell at Wall Street Zen

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

Several other research firms have also commented on ELS. Royal Bank Of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Equity Lifestyle Properties in a report on Friday, January 30th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $70.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Friday. Truist Financial increased their price objective on Equity Lifestyle Properties from $66.00 to $69.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Zacks Research upgraded shares of Equity Lifestyle Properties from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Barclays reaffirmed an “overweight” rating and set a $71.00 price target (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.42.

Equity Lifestyle Properties Trading Down 0.8%

Shares of NYSE:ELS opened at $67.25 on Friday. Equity Lifestyle Properties has a 52 week low of $58.15 and a 52 week high of $70.35. The company’s 50 day moving average is $63.71 and its two-hundred day moving average is $62.16. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.30. The company has a market cap of $13.04 billion, a PE ratio of 33.46, a P/E/G ratio of 3.76 and a beta of 0.76.

Hedge Funds Weigh In On Equity Lifestyle Properties

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Equity Lifestyle Properties during the 3rd quarter worth approximately $1,243,000. Andra AP fonden lifted its holdings in Equity Lifestyle Properties by 34.9% during the 2nd quarter. Andra AP fonden now owns 352,400 shares of the real estate investment trust’s stock valued at $21,733,000 after purchasing an additional 91,100 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in Equity Lifestyle Properties during the 2nd quarter valued at $1,039,000. AEGON ASSET MANAGEMENT UK Plc boosted its position in Equity Lifestyle Properties by 910.4% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 100,390 shares of the real estate investment trust’s stock worth $6,091,000 after purchasing an additional 90,454 shares during the period. Finally, Creative Planning increased its holdings in shares of Equity Lifestyle Properties by 191.3% in the second quarter. Creative Planning now owns 30,420 shares of the real estate investment trust’s stock valued at $1,876,000 after purchasing an additional 19,977 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

About Equity Lifestyle Properties

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.