Morgan Stanley Lowers Equity Lifestyle Properties (NYSE:ELS) Price Target to $62.50

Key Points

• Morgan Stanley has lowered the price target for Equity Lifestyle Properties from $67.50 to $62.50, maintaining an "equal weight" rating, which suggests a potential upside of 3.58% from its previous close.
• The average rating for Equity Lifestyle Properties among analysts is "Moderate Buy," with a consensus target price of $71.05, despite varied ratings from other brokerages, including upgrades and cuts in price targets.
• In its latest earnings report, Equity Lifestyle Properties met expectations with an EPS of $0.69, while revenues fell short of forecasts and declined 0.8% year-over-year.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) had its price target cut by equities researchers at Morgan Stanley from $67.50 to $62.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Morgan Stanley's price target points to a potential upside of 1.33% from the company's previous close.

ELS has been the topic of several other research reports. Compass Point upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price target on the stock in a research note on Tuesday, July 22nd. Royal Bank Of Canada cut their price target on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen cut Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Wells Fargo & Company cut their price objective on Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Finally, Truist Financial set a $68.00 price objective on Equity Lifestyle Properties and gave the company a "buy" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Equity Lifestyle Properties currently has a consensus rating of "Moderate Buy" and an average target price of $71.05.

Equity Lifestyle Properties Stock Up 1.3%

Shares of NYSE ELS traded up $0.79 on Thursday, hitting $61.68. The company had a trading volume of 1,872,438 shares, compared to its average volume of 1,331,116. Equity Lifestyle Properties has a 12-month low of $58.15 and a 12-month high of $76.60. The business has a 50 day moving average of $60.78 and a two-hundred day moving average of $63.49. 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 market capitalization of $11.95 billion, a P/E ratio of 31.96, a PEG ratio of 3.33 and a beta of 0.73.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.69 EPS for the quarter, hitting the consensus estimate of $0.69. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%.The business had revenue of $313.29 million for the quarter, compared to analysts' expectations of $377.59 million. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company's revenue was down .8% compared to the same quarter last year. Equity Lifestyle Properties has set its FY 2025 guidance at 3.010-3.110 EPS. Q3 2025 guidance at 0.720-0.780 EPS. As a group, equities research analysts forecast that Equity Lifestyle Properties will post 3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equity Lifestyle Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Equity Lifestyle Properties in the second quarter valued at $164,862,000. Nuveen LLC bought a new position in Equity Lifestyle Properties during the first quarter valued at about $142,937,000. Royal London Asset Management Ltd. raised its holdings in Equity Lifestyle Properties by 1,520.4% during the second quarter. Royal London Asset Management Ltd. now owns 1,771,803 shares of the real estate investment trust's stock valued at $109,267,000 after buying an additional 1,662,458 shares in the last quarter. Bank of America Corp DE grew its position in shares of Equity Lifestyle Properties by 53.6% in the second quarter. Bank of America Corp DE now owns 2,227,360 shares of the real estate investment trust's stock valued at $137,361,000 after purchasing an additional 777,107 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in shares of Equity Lifestyle Properties by 72.2% in the second quarter. Qube Research & Technologies Ltd now owns 1,722,135 shares of the real estate investment trust's stock valued at $106,204,000 after purchasing an additional 721,779 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

About Equity Lifestyle Properties

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.