Wells Fargo & Company Has Lowered Expectations for Equity Lifestyle Properties (NYSE:ELS) Stock Price

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) had its price objective cut by analysts at Wells Fargo & Company from $82.00 to $70.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective indicates a potential upside of 15.78% from the company's previous close.

ELS has been the subject of a number of other reports. Morgan Stanley assumed coverage on shares of Equity Lifestyle Properties in a research report on Tuesday, July 15th. They set a "positive" rating and a $67.50 price objective for the company. BMO Capital Markets decreased their price target on shares of Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Royal Bank Of Canada reduced 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 research note on Wednesday. Truist Financial reduced their price objective on shares of 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. Finally, Jefferies Financial Group began coverage on shares of Equity Lifestyle Properties in a research note on Tuesday, April 8th. They set a "buy" rating and a $80.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $72.05.

Equity Lifestyle Properties Stock Down 0.8%

Equity Lifestyle Properties stock traded down $0.48 during mid-day trading on Thursday, reaching $60.46. The company's stock had a trading volume of 524,480 shares, compared to its average volume of 1,477,739. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 3.32 and a beta of 0.72. Equity Lifestyle Properties has a 12 month low of $58.86 and a 12 month high of $76.60. The business's 50 day simple moving average is $62.68 and its 200 day simple moving average is $64.76. 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 announced its 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. The business had revenue of $313.29 million during the quarter, compared to the consensus estimate of $377.59 million. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. Equity Lifestyle Properties's revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, research analysts anticipate that Equity Lifestyle Properties will post 3.07 earnings per share for the current 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 on Wednesday, May 7th. The stock was 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Equity Lifestyle Properties

A number of institutional investors have recently made changes to their positions in ELS. Bessemer Group Inc. raised its holdings 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 worth $25,000 after acquiring an additional 210 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Equity Lifestyle Properties by 673.7% in the first quarter. Brooklyn Investment Group now owns 441 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 384 shares during the last quarter. National Pension Service raised its holdings in shares of Equity Lifestyle Properties by 75.0% in the first quarter. National Pension Service now owns 644 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 276 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Equity Lifestyle Properties in the first quarter worth $61,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Equity Lifestyle Properties by 31.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,426 shares of the real estate investment trust's stock valued at $95,000 after purchasing an additional 345 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.

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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