Equity Lifestyle Properties, Inc. (NYSE:ELS) Rating Reiterated by Cantor Fitzgerald

Equity Lifestyle Properties, Inc. (NYSE:ELS)‘s stock had its “neutral” rating reissued by equities researchers at Cantor Fitzgerald in a report issued on Saturday, July 22nd. They presently have a $81.00 target price on the real estate investment trust’s stock, up from their previous target price of $75.00. Cantor Fitzgerald’s price objective suggests a potential downside of 7.28% from the stock’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.

Other research analysts have also issued reports about the company. TheStreet raised Equity Lifestyle Properties from a “c+” rating to a “b” rating in a research report on Monday, April 17th. Zacks Investment Research downgraded Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. BidaskClub upgraded Equity Lifestyle Properties from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Finally, Evercore ISI raised their target price on Equity Lifestyle Properties from $74.00 to $77.00 and gave the company an “underperform” rating in a research note 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. The stock presently has a consensus rating of “Hold” and a consensus target price of $83.25.

Shares of Equity Lifestyle Properties (ELS) traded down 0.03% during mid-day trading on Friday, hitting $87.36. The stock had a trading volume of 361,926 shares. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 43.35 and a beta of 0.31. Equity Lifestyle Properties has a one year low of $65.87 and a one year high of $88.16. The company has a 50-day moving average of $86.52 and a 200 day moving average of $82.04.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 17th. The real estate investment trust reported $0.81 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.81. Equity Lifestyle Properties had a return on equity of 20.64% and a net margin of 22.00%. The company had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $209.80 million. During the same period in the prior year, the company earned $0.75 EPS. Equity Lifestyle Properties’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Equity Lifestyle Properties will post $2.13 earnings per share for the current year.

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In related news, Chairman Samuel Zell purchased 805,333 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were bought at an average price of $87.43 per share, with a total value of $70,410,264.19. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in Equity Lifestyle Properties by 80.6% in the fourth quarter. Comerica Bank now owns 6,264 shares of the real estate investment trust’s stock worth $455,000 after buying an additional 2,795 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Equity Lifestyle Properties by 27.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,399 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 946 shares during the period. GSA Capital Partners LLP raised its position in Equity Lifestyle Properties by 31.3% in the fourth quarter. GSA Capital Partners LLP now owns 3,705 shares of the real estate investment trust’s stock worth $267,000 after buying an additional 883 shares during the period. Tudor Investment Corp Et Al purchased a new position in Equity Lifestyle Properties during the fourth quarter worth approximately $203,000. Finally, Quadrature Capital Ltd purchased a new position in Equity Lifestyle Properties during the fourth quarter worth approximately $818,000. Institutional investors and hedge funds own 96.73% of the company’s stock.

Equity Lifestyle Properties Company Profile

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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