Barclays Has Lowered Expectations for Equity Lifestyle Properties (NYSE:ELS) Stock Price

Key Points

• Barclays cut its price target on Equity Lifestyle Properties (NYSE: ELS) from $71 to $68, while keeping an overweight rating. The new target still implies about 7.24% upside from the prior close.
• Analyst sentiment remains generally positive, with the stock carrying a Moderate Buy consensus and an average price target of $69.27. Recent calls from RBC, Wells Fargo, Deutsche Bank, and others range from hold to buy.
• ELS recently reported mixed quarterly results, missing EPS expectations at $0.56 versus $0.84 expected, even though revenue came in slightly ahead of estimates. The company also saw insider selling and heavy institutional ownership, with institutions holding 97.21% of shares.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) had its price objective reduced by Barclays from $71.00 to $68.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. Barclays's price objective would suggest a potential upside of 7.24% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada restated an "outperform" rating and set a $70.00 target price on shares of Equity Lifestyle Properties in a report on Friday, January 30th. Wells Fargo & Company reissued an "equal weight" rating and set a $70.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft raised shares of Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 price objective for the company in a research report on Wednesday, April 15th. Wall Street Zen raised Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Equity Lifestyle Properties in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and an average price target of $69.27.

Equity Lifestyle Properties Trading Up 0.3%

NYSE:ELS opened at $63.41 on Monday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.29. Equity Lifestyle Properties has a 1-year low of $58.15 and a 1-year high of $69.00. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 3.85 and a beta of 0.69. The business's 50-day moving average price is $64.90 and its two-hundred day moving average price is $63.45.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.84 by ($0.28). Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The firm had revenue of $397.62 million during the quarter, compared to analyst estimates of $395.71 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The business's revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that Equity Lifestyle Properties will post 3.18 earnings per share for the current year.

Insider Activity at Equity Lifestyle Properties

In related news, Director David J. Contis sold 3,000 shares of the firm's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total transaction of $201,660.00. Following the sale, the director owned 14,890 shares of the company's stock, valued at $1,000,905.80. This trade represents a 16.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Fermata Advisors LLC lifted its stake in shares of Equity Lifestyle Properties by 471.9% in the 4th quarter. Fermata Advisors LLC now owns 33,933 shares of the real estate investment trust's stock valued at $2,057,000 after purchasing an additional 28,000 shares during the period. AEGON ASSET MANAGEMENT UK Plc raised its holdings in shares of Equity Lifestyle Properties by 910.4% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 100,390 shares of the real estate investment trust's stock valued at $6,091,000 after purchasing an additional 90,454 shares during the last quarter. Argosy Lionbridge Management LLC bought a new position in shares of Equity Lifestyle Properties during the third quarter valued at about $3,703,000. ProShare Advisors LLC boosted its holdings in Equity Lifestyle Properties by 10.8% during the third quarter. ProShare Advisors LLC now owns 586,269 shares of the real estate investment trust's stock worth $35,587,000 after purchasing an additional 56,913 shares during the last quarter. Finally, Swiss Life Asset Management Ltd increased its stake in Equity Lifestyle Properties by 232.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 56,617 shares of the real estate investment trust's stock valued at $3,437,000 after buying an additional 39,580 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

Equity Lifestyle Properties Company Profile

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.

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