Evercore ISI Raises Equity LifeStyle Properties (NYSE:ELS) Price Target to $76.00

Equity LifeStyle Properties (NYSE:ELS) had its price target boosted by research analysts at Evercore ISI from $73.00 to $76.00 in a report issued on Monday, Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price suggests a potential upside of 0.24% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Truist Financial lifted their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $69.25.

Equity LifeStyle Properties Trading Down 0.6 %

Shares of NYSE:ELS traded down $0.43 during trading on Monday, reaching $75.82. The stock had a trading volume of 132,787 shares, compared to its average volume of 1,179,939. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The stock has a market cap of $14.14 billion, a P/E ratio of 41.39, a PEG ratio of 4.32 and a beta of 0.79. The business has a fifty day moving average price of $70.08 and a 200-day moving average price of $65.81. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.23). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The business had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. During the same quarter last year, the firm posted $0.66 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, analysts anticipate that Equity LifeStyle Properties will post 2.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Equity LifeStyle Properties

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cim LLC purchased a new stake in shares of Equity LifeStyle Properties during the fourth quarter worth about $2,586,000. Centersquare Investment Management LLC increased its holdings in Equity LifeStyle Properties by 22.9% during the 1st quarter. Centersquare Investment Management LLC now owns 123,030 shares of the real estate investment trust’s stock worth $7,417,000 after purchasing an additional 22,900 shares during the last quarter. GAMMA Investing LLC increased its holdings in Equity LifeStyle Properties by 36.0% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 217 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Equity LifeStyle Properties by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock valued at $21,952,000 after purchasing an additional 12,444 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Equity LifeStyle Properties by 1,029.9% during the 4th quarter. UBS Group AG now owns 243,770 shares of the real estate investment trust’s stock valued at $17,196,000 after buying an additional 222,196 shares during the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.