Barclays Reaffirms Equal Weight Rating for Equity Lifestyle Properties (NYSE:ELS)

Key Points

• Barclays reaffirmed its Equal Weight rating on Equity Lifestyle Properties and kept a $68 price target, implying about 4.6% upside from the prior close.
• Other analysts remain mixed on ELS, with the stock holding a Moderate Buy consensus and an average price target of $68.92 across Wall Street coverage.
• ELS shares were trading around $65 and are up 2.4%; the company recently missed quarterly EPS estimates, though revenue slightly topped expectations.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report)'s stock had its "equal weight" rating reissued by stock analysts at Barclays in a research report issued on Tuesday,Benzinga reports. They presently have a $68.00 price target on the real estate investment trust's stock. Barclays's target price indicates a potential upside of 4.62% from the company's previous close.

A number of other equities research analysts also recently commented on ELS. Odeon Capital Group set a $65.00 price target on shares of Equity Lifestyle Properties in a report on Thursday. Weiss Ratings raised shares of Equity Lifestyle Properties from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 2nd. Mizuho assumed coverage on Equity Lifestyle Properties in a research note on Tuesday, March 31st. They set an "outperform" rating and a $72.00 price target on the stock. Wells Fargo & Company decreased their price objective 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. Finally, Odean Cap Resea raised Equity Lifestyle Properties to a "hold" rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $68.92.

Equity Lifestyle Properties Trading Up 2.4%

Shares of ELS stock opened at $65.00 on Tuesday. The stock has a market cap of $12.61 billion, a P/E ratio of 32.50, a P/E/G ratio of 3.86 and a beta of 0.66. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29. Equity Lifestyle Properties has a fifty-two week low of $58.15 and a fifty-two week high of $69.00. The business has a fifty day simple moving average of $63.25 and a 200-day simple moving average of $63.93.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELS. Empowered Funds LLC raised its holdings in shares of Equity Lifestyle Properties by 3.5% in the 4th quarter. Empowered Funds LLC now owns 5,055 shares of the real estate investment trust's stock worth $306,000 after purchasing an additional 169 shares during the period. Bessemer Group Inc. increased its position in Equity Lifestyle Properties by 30.3% during the 1st quarter. Bessemer Group Inc. now owns 735 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 171 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in Equity Lifestyle Properties by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 43,367 shares of the real estate investment trust's stock valued at $2,628,000 after buying an additional 172 shares during the period. Private Advisor Group LLC raised its holdings in Equity Lifestyle Properties by 3.7% in the third quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust's stock valued at $300,000 after buying an additional 178 shares during the period. Finally, Fifth Third Bancorp lifted its position in Equity Lifestyle Properties by 3.5% during the first quarter. Fifth Third Bancorp now owns 5,561 shares of the real estate investment trust's stock valued at $347,000 after buying an additional 189 shares in the last quarter. Institutional investors and hedge funds 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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