Equity Lifestyle Properties (NYSE:ELS) Stock Price Target Cut by Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Equity Lifestyle Properties’ price target to $68 from $71 while maintaining an “outperform” rating, implying approximately 15% upside from the stock’s $59.09 price.
• Analyst sentiment is mixed: the stock has an average “hold” rating and a consensus price target of $67.88, based on one Strong Buy, six Buy, eight Hold, and one Sell rating.
• ELS shares fell 0.2% in Tuesday trading. The REIT’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.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) had its target price decreased by equities research analysts at Royal Bank Of Canada from $71.00 to $68.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's target price indicates a potential upside of 15.09% from the stock's current price.

Other analysts have also issued research reports about the stock. Barclays set a $69.00 target price on shares of Equity Lifestyle Properties and gave the stock an "equal weight" rating in a report on Monday, August 17th. Mizuho reiterated a "neutral" rating and set a $65.00 target price (down from $72.00) on shares of Equity Lifestyle Properties in a research report on Monday, September 21st. Weiss Ratings downgraded Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, September 8th. Truist Financial set a $64.00 price target on Equity Lifestyle Properties and gave the stock a "hold" rating in a research report on Friday, September 11th. Finally, Odeon Capital Group set a $65.00 price target on Equity Lifestyle Properties in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $67.88.

Equity Lifestyle Properties Trading Down 0.2%

Shares of NYSE:ELS traded down $0.10 during trading on Tuesday, hitting $59.09. 248,930 shares of the company's stock were exchanged, compared to its average volume of 1,657,160. Equity Lifestyle Properties has a 1-year low of $57.46 and a 1-year high of $69.00. The firm has a 50-day moving average price of $62.04 and a two-hundred day moving average price of $63.13. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. The firm has a market cap of $11.47 billion, a P/E ratio of 28.40, a PEG ratio of 3.50 and a beta of 0.63.

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 analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $383.66 million. During the same period last year, the firm earned $0.69 earnings per share. The company's quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts predict that Equity Lifestyle Properties will post 3.20 earnings per share for the current year.

Institutional Trading of Equity Lifestyle Properties

A number of hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust raised its holdings in Equity Lifestyle Properties by 126.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 415 shares of the real estate investment trust's stock worth $27,000 after buying an additional 232 shares during the period. Versant Capital Management Inc bought a new position in Equity Lifestyle Properties in the third quarter valued at approximately $26,000. Clearstead Trust LLC bought a new position in Equity Lifestyle Properties in the second quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Equity Lifestyle Properties in the second quarter valued at approximately $37,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Equity Lifestyle Properties in the second quarter valued at approximately $38,000. 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 real estate investment trust that owns and operates manufactured home communities, recreational vehicle resorts and marinas. Its properties provide residential sites for manufactured homes and park model homes, as well as vacation-oriented accommodations and facilities for RV owners and boaters.

The company serves a range of residents and travelers through long-term manufactured housing communities, seasonal and transient RV resorts, and marina properties.

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