Equity Lifestyle Properties (NYSE:ELS) Upgraded at Jefferies Financial Group

Key Points

• Equity Lifestyle Properties has been upgraded to a "strong-buy" rating by Jefferies Financial Group, indicating increased confidence from analysts in the company's future performance.
• Despite the upgrade, other analysts have mixed views with price targets ranging from $62.50 to $70.00, showing varying levels of bullishness among market experts.
• The company reported a quarterly EPS of $0.69, meeting expectations, but experienced a 0.8% decline in revenue compared to the same period last year.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) was upgraded by stock analysts at Jefferies Financial Group to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Barclays raised shares of Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $70.00 to $67.00 in a research report on Tuesday, July 29th. Truist Financial set a $68.00 price objective on shares of Equity Lifestyle Properties and gave the company a "buy" rating in a research report on Wednesday, July 30th. Wall Street Zen cut shares of Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley cut their price objective on shares of Equity Lifestyle Properties from $67.50 to $62.50 and set an "equal weight" rating on the stock in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.05.

Equity Lifestyle Properties Price Performance

Shares of ELS stock opened at $62.98 on Monday. Equity Lifestyle Properties has a 12-month low of $58.15 and a 12-month high of $73.67. The firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of 32.63, a price-to-earnings-growth ratio of 3.40 and a beta of 0.71. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average of $60.97 and a 200-day moving average of $62.12.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.69 EPS for the quarter, meeting the consensus estimate of $0.69. The business had revenue of $313.29 million for the quarter, compared to analysts' expectations of $377.59 million. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. The firm's revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. On average, equities research analysts forecast that Equity Lifestyle Properties will post 3.07 earnings per share for the current year.

Institutional Investors Weigh In On Equity Lifestyle Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Equity Lifestyle Properties by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 25,151,151 shares of the real estate investment trust's stock worth $1,677,582,000 after buying an additional 97,306 shares in the last quarter. State Street Corp raised its holdings in shares of Equity Lifestyle Properties by 1.8% in the 2nd quarter. State Street Corp now owns 13,268,436 shares of the real estate investment trust's stock valued at $824,943,000 after purchasing an additional 237,090 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Equity Lifestyle Properties by 4.6% in the 1st quarter. Principal Financial Group Inc. now owns 6,349,010 shares of the real estate investment trust's stock valued at $423,479,000 after purchasing an additional 278,193 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Equity Lifestyle Properties by 15.1% in the 1st quarter. Victory Capital Management Inc. now owns 5,330,066 shares of the real estate investment trust's stock valued at $355,515,000 after purchasing an additional 699,877 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Equity Lifestyle Properties by 12.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,724,515 shares of the real estate investment trust's stock valued at $291,363,000 after purchasing an additional 515,063 shares during the period. 97.21% of the stock is owned by institutional investors.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.

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