Zacks Research Upgrades Equity Lifestyle Properties (NYSE:ELS) to Hold

Equity Lifestyle Properties (NYSE:ELS) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages also recently commented on ELS. Royal Bank Of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. Wells Fargo & Company reduced their target price 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. BMO Capital Markets reissued an “outperform” rating and issued a $75.00 price target (up from $72.00) on shares of Equity Lifestyle Properties in a report on Wednesday, February 18th. Bank of America upgraded shares of Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Tuesday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.27.

Equity Lifestyle Properties Stock Up 0.5%

NYSE ELS opened at $68.29 on Monday. Equity Lifestyle Properties has a twelve month low of $58.15 and a twelve month high of $70.35. The stock has a market cap of $13.24 billion, a PE ratio of 33.97, a PEG ratio of 3.77 and a beta of 0.76. The firm has a 50-day simple moving average of $63.36 and a 200 day simple moving average of $62.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.04 and a current ratio of 0.04.

Hedge Funds Weigh In On Equity Lifestyle Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELS. Vanguard Group Inc. increased its holdings in shares of Equity Lifestyle Properties by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust’s stock worth $1,544,190,000 after buying an additional 592,013 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Equity Lifestyle Properties by 303.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock worth $966,648,000 after acquiring an additional 11,999,874 shares during the last quarter. State Street Corp grew its position in Equity Lifestyle Properties by 1.8% during the 2nd quarter. State Street Corp now owns 13,268,436 shares of the real estate investment trust’s stock worth $824,943,000 after acquiring an additional 237,090 shares during the last quarter. Cohen & Steers Inc. increased its holdings in Equity Lifestyle Properties by 26.8% during the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock valued at $643,331,000 after purchasing an additional 2,246,622 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Equity Lifestyle Properties by 32.5% in the 3rd quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock valued at $414,194,000 after purchasing an additional 1,674,281 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

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.