Equity Lifestyle Properties (NYSE:ELS) Receives "Neutral" Rating from Mizuho

Key Points

• Mizuho reaffirmed its “Neutral” rating on Equity Lifestyle Properties and cut its price target from $72 to $65, implying roughly 7.5% upside from the prior close.
• Analyst sentiment remains mixed but leans cautious: MarketBeat reports a consensus “Hold” rating and an average price target of $67.80, based on one Strong Buy, six Buys, eight Holds and one Sell.
• ELS shares opened at $60.49, while the company’s latest quarterly revenue rose 5.5% year over year to $397.81 million but earnings per share of $0.50 missed estimates of $0.72. Institutional investors own 97.21% of the stock.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report)'s stock had its "neutral" rating restated by Mizuho in a research report issued on Monday, Benzinga reports. They presently have a $65.00 price target on the real estate investment trust's stock, down from their prior price target of $72.00. Mizuho's target price points to a potential upside of 7.46% from the stock's previous close.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company lowered their price objective on Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Monday, June 1st. Jefferies Financial Group upgraded Equity Lifestyle Properties to a "strong-buy" rating in a report on Wednesday, July 22nd. Barclays set a $69.00 price target on shares of Equity Lifestyle Properties and gave the company an "equal weight" rating in a research report on Monday, August 17th. Weiss Ratings lowered shares of Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, September 8th. Finally, Truist Financial set a $64.00 price objective on shares of Equity Lifestyle Properties and gave the stock a "hold" rating in a research report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Equity Lifestyle Properties presently has a consensus rating of "Hold" and a consensus target price of $67.80.

Equity Lifestyle Properties Trading Up 0.1%

Shares of ELS opened at $60.49 on Monday. Equity Lifestyle Properties has a 52-week low of $58.72 and a 52-week high of $69.00. The stock has a market cap of $11.74 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 3.52 and a beta of 0.64. The firm's fifty day moving average is $64.12 and its two-hundred day moving average is $64.00. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31.

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). Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The business had revenue of $397.81 million during the quarter, compared to analysts' expectations of $383.66 million. During the same period in the prior year, the business posted $0.69 earnings per share. The business's quarterly revenue was up 5.5% on a year-over-year basis. Research analysts forecast that Equity Lifestyle Properties will post 3.2 earnings per share for the current fiscal year.

Institutional Trading of Equity Lifestyle Properties

A number of hedge funds and other institutional investors have recently modified their holdings of ELS. BlackRock Inc. acquired a new position in Equity Lifestyle Properties during the second quarter worth $1,576,449,000. Cohen & Steers Inc. grew its stake in shares of Equity Lifestyle Properties by 26.8% in the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust's stock valued at $643,331,000 after buying an additional 2,246,622 shares in the last quarter. Norges Bank acquired a new stake in shares of Equity Lifestyle Properties in the fourth quarter valued at $125,352,000. Bank of America Corp DE purchased a new stake in shares of Equity Lifestyle Properties in the 2nd quarter valued at $125,301,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Equity Lifestyle Properties in the 2nd quarter valued at $91,434,000. 97.21% of the stock is 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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