Equity LifeStyle Properties (NYSE:ELS) Upgraded to Buy at Truist Financial

Equity LifeStyle Properties (NYSE:ELS) was upgraded by equities researchers at Truist Financial from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports.

Other equities research analysts have also issued reports about the stock. Robert W. Baird boosted their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.50 to $82.00 in a report on Thursday, September 19th. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Evercore ISI boosted their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $72.00 to $80.00 in a research note on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.30.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS traded up $0.41 during midday trading on Friday, hitting $66.61. The company had a trading volume of 130,574 shares, compared to its average volume of 1,330,816. The firm has a market capitalization of $12.73 billion, a price-to-earnings ratio of 34.40, a price-to-earnings-growth ratio of 3.21 and a beta of 0.79. Equity LifeStyle Properties has a twelve month low of $59.82 and a twelve month high of $76.60. The business has a 50-day simple moving average of $68.64 and a two-hundred day simple moving average of $69.37. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The company had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. Equity LifeStyle Properties’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities research analysts anticipate that Equity LifeStyle Properties will post 2.92 earnings per share for the current year.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several hedge funds have recently modified their holdings of ELS. Board of the Pension Protection Fund purchased a new position in Equity LifeStyle Properties during the fourth quarter worth approximately $33,000. UMB Bank n.a. raised its position in shares of Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 417 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Equity LifeStyle Properties by 43.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 171 shares during the last quarter. V Square Quantitative Management LLC grew its position in Equity LifeStyle Properties by 31.3% during the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 146 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Equity LifeStyle Properties during the second quarter worth about $54,000. 97.21% of the stock is owned by institutional investors and hedge funds.

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.