Equity Lifestyle Properties (NYSE:ELS) Stock Price Target Lowered at UBS Group

Key Points

• UBS Group lowered its price target for Equity Lifestyle Properties from $76 to $67 while maintaining a “buy” rating, implying 13.74% upside from the stock’s $58.90 price.
• Analyst sentiment is mixed: the stock has a consensus “hold” rating and an average target price of $68.02, based on one Strong Buy, six Buys, eight Holds and one Sell.
• ELS recently missed quarterly EPS expectations, reporting $0.50 versus the $0.72 consensus, although revenue rose 5.5% year over year to $397.81 million. Institutional investors own 97.21% of the company’s shares.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) had its price objective lowered by analysts at UBS Group from $76.00 to $67.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the real estate investment trust's stock. UBS Group's target price would indicate a potential upside of 13.74% from the company's current price.

Other research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, September 8th. Morgan Stanley reaffirmed a "mixed" rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Mizuho reaffirmed a "neutral" rating and set a $65.00 price objective (down from $72.00) on shares of Equity Lifestyle Properties in a report on Monday, September 21st. Truist Financial set a $64.00 price target on Equity Lifestyle Properties and gave the company a "hold" rating in a research report on Friday, September 11th. Finally, Evercore set a $68.00 price objective on Equity Lifestyle Properties in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Equity Lifestyle Properties currently has a consensus rating of "Hold" and an average target price of $68.02.

Equity Lifestyle Properties Stock Performance

NYSE:ELS traded up $0.41 on Tuesday, reaching $58.90. 188,942 shares of the company's stock were exchanged, compared to its average volume of 1,651,023. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 3.46 and a beta of 0.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02. The stock has a fifty day simple moving average of $62.77 and a 200-day simple moving average of $63.34. Equity Lifestyle Properties has a 52 week low of $57.46 and a 52 week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.22). The business 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 business's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. As a group, sell-side analysts predict that Equity Lifestyle Properties will post 3.2 earnings per share for the current year.

Institutional Investors Weigh In On Equity Lifestyle Properties

Several large investors have recently bought and sold shares of ELS. BlackRock Inc. bought a new stake in Equity Lifestyle Properties during the second quarter valued at about $1,576,449,000. Cohen & Steers Inc. boosted its stake 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 valued at $643,331,000 after buying an additional 2,246,622 shares during the last quarter. Bank of America Corp DE bought a new position in Equity Lifestyle Properties during the second quarter valued at $125,301,000. Canada Pension Plan Investment Board bought a new stake in shares of Equity Lifestyle Properties during the 2nd quarter worth approximately $91,434,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Equity Lifestyle Properties in the 2nd quarter worth approximately $89,012,000. 97.21% of the stock is currently owned by institutional investors.

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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