Equity Lifestyle Properties (NYSE:ELS) Upgraded to "Buy" at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties (ELS) from "hold" to "buy" and set a $72 price target, implying roughly an 11.9% upside from the current share price.
• Analyst coverage is broadly positive — MarketBeat shows a consensus rating of "Moderate Buy" with a $69.55 consensus price target, and several firms (including BofA, BMO, Barclays and Mizuho) have recently raised targets into the low-to-mid $70s.
• Insiders and institutions: a director sold 3,000 shares in March, while institutional ownership is very high at 97.21%, with major holders (Vanguard, T. Rowe, Cohen & Steers) substantially increasing their stakes.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a "hold" rating to a "buy" rating in a report released on Wednesday,Finviz reports. The brokerage currently has a $72.00 target price on the real estate investment trust's stock. Deutsche Bank Aktiengesellschaft's price target would suggest a potential upside of 11.91% from the stock's current price.

ELS has been the topic of several other reports. Mizuho assumed coverage on shares of 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. Barclays reissued an "overweight" rating and issued a $71.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a research note on Thursday, February 5th. BMO Capital Markets reiterated an "outperform" rating and issued a $75.00 price target (up from $72.00) on shares of Equity Lifestyle Properties in a report on Wednesday, February 18th. Wells Fargo & Company restated an "equal weight" rating and set a $70.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Friday, February 27th. Finally, Bank of America raised shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $76.00 target price on the stock in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $69.55.

Equity Lifestyle Properties Stock Down 0.4%

Shares of NYSE ELS opened at $64.34 on Wednesday. The firm's 50-day simple moving average is $65.89 and its 200 day simple moving average is $63.27. The company has a market cap of $12.48 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 3.58 and a beta of 0.76. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.30. Equity Lifestyle Properties has a 12-month low of $58.15 and a 12-month high of $69.00.

Insiders Place Their Bets

In other Equity Lifestyle Properties news, Director David J. Contis sold 3,000 shares of the business's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total value of $201,660.00. Following the completion of the transaction, the director directly owned 14,890 shares of the company's stock, valued at approximately $1,000,905.80. The trade was a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Equity Lifestyle Properties by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust's stock worth $1,544,190,000 after purchasing an additional 592,013 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Equity Lifestyle Properties by 303.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust's stock valued at $966,648,000 after purchasing an additional 11,999,874 shares during the period. Cohen & Steers Inc. raised its stake in shares of Equity Lifestyle Properties by 26.8% in the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust's stock valued at $643,331,000 after purchasing an additional 2,246,622 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Equity Lifestyle Properties by 32.5% in the third quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust's stock valued at $414,194,000 after purchasing an additional 1,674,281 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Equity Lifestyle Properties by 114.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,375,154 shares of the real estate investment trust's stock valued at $326,272,000 after purchasing an additional 2,868,678 shares in the last quarter. Institutional investors own 97.21% of the company's stock.

About Equity Lifestyle Properties

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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