Equity Lifestyle Properties, Inc. (NYSE:ELS)‘s stock had its “neutral” rating reissued by equities researchers at Cantor Fitzgerald in a report released on Saturday, July 22nd. They currently have a $81.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $75.00. Cantor Fitzgerald’s target price would suggest a potential downside of 5.98% from the company’s previous close. Cantor Fitzgerald also issued estimates for Equity Lifestyle Properties’ FY2017 earnings at $3.60 EPS and FY2018 earnings at $3.87 EPS.
A number of other equities analysts have also commented on the stock. BidaskClub lowered shares of Equity Lifestyle Properties from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research report on Thursday, June 22nd. TheStreet raised shares of Equity Lifestyle Properties from a “c+” rating to a “b” rating in a research report on Monday, April 17th. Finally, Evercore ISI lifted their price objective on shares of Equity Lifestyle Properties from $74.00 to $77.00 and gave the company an “underperform” rating in a report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Equity Lifestyle Properties currently has a consensus rating of “Hold” and an average target price of $83.25.
Shares of Equity Lifestyle Properties (NYSE ELS) opened at 86.15 on Friday. The stock has a 50 day moving average price of $86.37 and a 200-day moving average price of $81.58. The company has a market capitalization of $7.50 billion, a PE ratio of 42.75 and a beta of 0.31. Equity Lifestyle Properties has a 12 month low of $65.87 and a 12 month high of $88.16.
Equity Lifestyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 17th. The real estate investment trust reported $0.81 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.81. The business had revenue of $221.30 million for the quarter, compared to analyst estimates of $209.80 million. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. Analysts forecast that Equity Lifestyle Properties will post $2.13 EPS for the current year.
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In other Equity Lifestyle Properties news, Vice Chairman Howard Walker sold 1,608 shares of Equity Lifestyle Properties stock in a transaction on Monday, May 15th. The shares were sold at an average price of $82.11, for a total value of $132,032.88. Following the transaction, the insider now directly owns 57,265 shares of the company’s stock, valued at $4,702,029.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Samuel Zell purchased 805,333 shares of the business’s stock in a transaction on Friday, July 21st. The stock was purchased at an average cost of $87.43 per share, for a total transaction of $70,410,264.19. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. OxFORD Asset Management LLP raised its position in Equity Lifestyle Properties by 820.9% in the second quarter. OxFORD Asset Management LLP now owns 36,276 shares of the real estate investment trust’s stock valued at $3,132,000 after buying an additional 32,337 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Equity Lifestyle Properties by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,132,341 shares of the real estate investment trust’s stock valued at $97,764,000 after buying an additional 45,134 shares in the last quarter. Renaissance Technologies LLC raised its position in Equity Lifestyle Properties by 21.6% in the second quarter. Renaissance Technologies LLC now owns 1,684,500 shares of the real estate investment trust’s stock valued at $145,440,000 after buying an additional 299,300 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Equity Lifestyle Properties by 2.4% in the second quarter. Parametric Portfolio Associates LLC now owns 78,394 shares of the real estate investment trust’s stock valued at $6,769,000 after buying an additional 1,820 shares in the last quarter. Finally, Advisor Group Inc. increased its stake in Equity Lifestyle Properties by 9.2% in the second quarter. Advisor Group Inc. now owns 1,489 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 125 shares during the last quarter. 96.61% of the stock is currently owned by institutional investors and hedge funds.
About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (properties) consisting primarily of manufactured home (MH) communities and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations and Home Sales and Rentals Operations.
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