Equity Lifestyle Properties (NYSE:ELS) Raised to "Overweight" at Barclays

Key Points

• Equity Lifestyle Properties (NYSE:ELS) received an upgrade to "overweight" from Barclays, with a price target of $67.00, indicating a potential upside of 14.61% from its current price.
• Despite the upgrade, the company's shares have recently decreased by 2.0%, trading around $58.46.
• The consensus rating for the stock remains a "Moderate Buy," with ten analysts assigning buy ratings and an average target price of $71.77.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) was upgraded by research analysts at Barclays from an "equal weight" rating to an "overweight" rating in a research report issued on Tuesday, MarketBeat.com reports. The firm currently has a $67.00 price target on the real estate investment trust's stock, down from their previous price target of $70.00. Barclays's price target points to a potential upside of 11.14% from the company's previous close.

Other analysts also recently issued research reports about the stock. Royal Bank Of Canada dropped their target price on shares of Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Wells Fargo & Company reduced their price target on shares of Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Truist Financial reduced their target price on Equity Lifestyle Properties from $72.00 to $71.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley initiated coverage on Equity Lifestyle Properties in a report on Tuesday, July 15th. They issued a "positive" rating and a $67.50 price target for the company. Finally, Compass Point upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price objective on the stock in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.50.

Equity Lifestyle Properties Stock Up 0.6%

NYSE:ELS traded up $0.37 during mid-day trading on Tuesday, hitting $60.29. 2,200,136 shares of the company's stock traded hands, compared to its average volume of 1,517,044. The company has a fifty day moving average of $62.08 and a 200 day moving average of $64.51. Equity Lifestyle Properties has a twelve month low of $58.15 and a twelve month high of $76.60. The company has a market capitalization of $11.68 billion, a P/E ratio of 31.24, a P/E/G ratio of 3.13 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.03 and a current ratio of 0.04.

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

Insider Buying and Selling at Equity Lifestyle Properties

In other news, CFO Paul Seavey sold 10,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total transaction of $647,200.00. Following the completion of the transaction, the chief financial officer owned 78,162 shares in the company, valued at approximately $5,058,644.64. This trade represents a 11.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Equity Lifestyle Properties

Large investors have recently made changes to their positions in the business. Bessemer Group Inc. increased its position in Equity Lifestyle Properties by 121.4% in the 4th quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock worth $25,000 after buying an additional 210 shares during the period. Brooklyn Investment Group grew its position in Equity Lifestyle Properties by 673.7% in the 1st quarter. Brooklyn Investment Group now owns 441 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 384 shares during the last quarter. National Pension Service increased its holdings in shares of Equity Lifestyle Properties by 75.0% during the 1st quarter. National Pension Service now owns 644 shares of the real estate investment trust's stock worth $43,000 after purchasing an additional 276 shares during the period. IFP Advisors Inc raised its position in shares of Equity Lifestyle Properties by 874.7% during the second quarter. IFP Advisors Inc now owns 848 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 761 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Equity Lifestyle Properties in the first quarter valued at about $61,000. Institutional investors own 97.21% of the company's stock.

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.