Truist Financial Cuts Equity LifeStyle Properties (NYSE:ELS) Price Target to $65.00

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) had its price objective dropped by equities research analysts at Truist Financial from $72.00 to $65.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's target price indicates a potential upside of 2.91% from the stock's previous close.

A number of other research analysts have also recently weighed in on ELS. Barclays cut their price objective on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an "overweight" rating for the company in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft began coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They set a "hold" rating and a $64.00 price target on the stock. Royal Bank of Canada restated a "sector perform" rating and issued a $70.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Finally, Wolfe Research upgraded Equity LifeStyle Properties from a "peer perform" rating to an "outperform" rating and set a $75.00 target price on the stock in a research report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $68.85.

Equity LifeStyle Properties Stock Performance

Equity LifeStyle Properties stock traded up $2.21 during midday trading on Thursday, hitting $63.16. 1,597,019 shares of the company were exchanged, compared to its average volume of 1,267,454. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market capitalization of $11.78 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 3.55 and a beta of 0.70. The business has a fifty day simple moving average of $63.98 and a two-hundred day simple moving average of $66.96. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $74.04.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Farrow Financial Inc. grew its holdings in shares of Equity LifeStyle Properties by 5.2% in the first quarter. Farrow Financial Inc. now owns 21,878 shares of the real estate investment trust's stock valued at $1,409,000 after purchasing an additional 1,076 shares during the period. FORA Capital LLC purchased a new stake in shares of Equity LifeStyle Properties in the 1st quarter valued at approximately $1,684,000. Daiwa Securities Group Inc. increased its holdings in shares of Equity LifeStyle Properties by 4.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 73,878 shares of the real estate investment trust's stock worth $4,758,000 after buying an additional 3,234 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Equity LifeStyle Properties by 6.8% during the first quarter. Janney Montgomery Scott LLC now owns 194,795 shares of the real estate investment trust's stock worth $12,545,000 after acquiring an additional 12,434 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Equity LifeStyle Properties by 85.6% in the first quarter. BNP Paribas Financial Markets now owns 240,556 shares of the real estate investment trust's stock valued at $15,492,000 after purchasing an additional 110,914 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity LifeStyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.