Equity LifeStyle Properties (NYSE:ELS) Upgraded by Jefferies Financial Group to Buy Rating

Equity LifeStyle Properties (NYSE:ELS) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report issued on Thursday, MarketBeat.com reports. The brokerage presently has a $80.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $72.00. Jefferies Financial Group’s target price would indicate a potential upside of 20.12% from the stock’s previous close.

ELS has been the subject of several other reports. Truist Financial lifted their price objective on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Compass Point lifted their price target on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Evercore ISI increased their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 21st. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Robert W. Baird upped their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Moderate Buy” and a consensus price target of $73.30.

Equity LifeStyle Properties Stock Up 0.8 %

Equity LifeStyle Properties stock opened at $66.60 on Thursday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm has a market cap of $12.72 billion, a P/E ratio of 34.33, a P/E/G ratio of 3.61 and a beta of 0.77. The business has a fifty day moving average of $69.49 and a two-hundred day moving average of $69.28. Equity LifeStyle Properties has a twelve month low of $59.82 and a twelve month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). The firm had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. On average, analysts forecast that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equity LifeStyle Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in Equity LifeStyle Properties by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust’s stock valued at $339,713,000 after buying an additional 147,332 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Equity LifeStyle Properties by 56.5% during the third quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust’s stock valued at $159,232,000 after acquiring an additional 805,681 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Equity LifeStyle Properties by 7.9% in the third quarter. Franklin Resources Inc. now owns 809,801 shares of the real estate investment trust’s stock valued at $55,034,000 after acquiring an additional 59,243 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Equity LifeStyle Properties by 15.8% in the third quarter. Tidal Investments LLC now owns 112,115 shares of the real estate investment trust’s stock worth $7,998,000 after acquiring an additional 15,310 shares during the last quarter. Finally, Destination Wealth Management purchased a new stake in shares of Equity LifeStyle Properties during the third quarter worth approximately $262,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

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.