Wall Street Zen Downgrades Equity Lifestyle Properties (NYSE:ELS) to Sell

Key Points

• Equity Lifestyle Properties was downgraded from a "hold" to a "sell" rating by Wall Street Zen, marking a significant change in sentiment for the stock.
• Other analysts have varying ratings on ELS, with one upgrade to "buy" and several maintaining "hold" and "overweight" ratings, resulting in a current consensus rating of "Moderate Buy" with a target price of $71.50.
• The company's recent quarterly earnings report showed a net margin of 24.13% and revenue of $313.29 million, which was below analysts' estimates.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

A number of other research firms have also weighed in on ELS. Compass Point upgraded shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a report on Tuesday, July 22nd. Wells Fargo & Company dropped their target price on Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Jefferies Financial Group assumed coverage on Equity Lifestyle Properties in a research report on Tuesday, April 8th. They set a "buy" rating and a $80.00 target price on the stock. Barclays raised Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $70.00 to $67.00 in a research report on Tuesday. Finally, Royal Bank Of Canada cut their price objective on shares of Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.50.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS opened at $60.29 on Friday. Equity Lifestyle Properties has a twelve month low of $58.15 and a twelve month high of $76.60. The stock's 50 day moving average is $62.02 and its 200-day moving average is $64.48. The company has a quick ratio of 0.03, a current ratio of 0.04 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $11.68 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 3.20 and a beta of 0.70.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.69 EPS for the quarter, meeting analysts' consensus estimates of $0.69. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. The business had revenue of $313.29 million during the quarter, compared to analyst estimates of $377.59 million. During the same quarter in the previous year, the business posted $0.66 EPS. Equity Lifestyle Properties's quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts forecast that Equity Lifestyle Properties will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling at Equity Lifestyle Properties

In related news, CFO Paul Seavey sold 10,000 shares of Equity Lifestyle Properties stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total value of $647,200.00. Following the sale, the chief financial officer owned 78,162 shares of the company's stock, valued at approximately $5,058,644.64. The trade was a 11.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equity Lifestyle Properties

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in shares of Equity Lifestyle Properties by 121.4% in the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 210 shares during the period. Brooklyn Investment Group raised its stake 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 valued at $29,000 after acquiring an additional 384 shares during the period. National Pension Service lifted its holdings in Equity Lifestyle Properties by 75.0% during the first quarter. National Pension Service now owns 644 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 276 shares during the last quarter. IFP Advisors Inc boosted its position in 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 worth $52,000 after purchasing an additional 761 shares during the period. Finally, SVB Wealth LLC bought a new position in Equity Lifestyle Properties during the first quarter worth about $61,000. 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.

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