Equity Lifestyle Properties (NYSE:ELS – Get Free Report)‘s stock had its “neutral” rating restated by research analysts at Mizuho in a note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $65.00 target price on the real estate investment trust’s stock, down from their prior target price of $72.00. Mizuho’s price target would indicate a potential upside of 7.76% from the stock’s current price.
A number of other research analysts also recently issued reports on ELS. Morgan Stanley restated a “mixed” rating and set a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. Odeon Capital Group set a $65.00 price objective on Equity Lifestyle Properties in a research note on Thursday, July 9th. Barclays set a $69.00 price objective on Equity Lifestyle Properties and gave the company an “equal weight” rating in a report on Monday, August 17th. Truist Financial set a $64.00 target price on Equity Lifestyle Properties and gave the stock a “hold” rating in a research note on Friday, September 11th. Finally, Wells Fargo & Company dropped their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $67.88.
Read Our Latest Stock Report on ELS
Equity Lifestyle Properties Stock Performance
Equity Lifestyle Properties (NYSE:ELS – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.22). The firm had revenue of $397.81 million for the quarter, compared to analysts’ expectations of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, research analysts predict that Equity Lifestyle Properties will post 3.2 EPS for the current year.
Institutional Investors Weigh In On Equity Lifestyle Properties
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Equity Lifestyle Properties during the 2nd quarter worth approximately $1,576,449,000. Cohen & Steers Inc. lifted its position in Equity Lifestyle Properties by 26.8% during the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock worth $643,331,000 after buying an additional 2,246,622 shares in the last quarter. Norges Bank acquired a new position in Equity Lifestyle Properties during the fourth quarter worth $125,352,000. Bank of America Corp DE acquired a new position in Equity Lifestyle Properties during the second quarter worth $125,301,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Equity Lifestyle Properties in the 2nd quarter valued at $91,434,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.
Equity Lifestyle Properties Company Profile
Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns, operates and manages residential communities and resort properties across the United States. Its portfolio primarily consists of manufactured home communities, recreational vehicle (RV) resorts and campgrounds.
The company provides long-term homesites for manufactured housing residents, as well as seasonal and transient accommodations for RV owners and vacationers. Its properties generally offer amenities and services such as clubhouses, swimming pools, recreational facilities, community events and utility connections.
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