Barclays Cuts Equity Lifestyle Properties (NYSE:ELS) Price Target to $68.00

Equity Lifestyle Properties (NYSE:ELS) had its price objective reduced by stock analysts at Barclays from $71.00 to $68.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective would suggest a potential upside of 7.24% from the company’s current price.

ELS has been the subject of several other reports. Truist Financial set a $67.00 target price on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 price objective (up from $72.00) on shares of Equity Lifestyle Properties in a research note on Wednesday, February 18th. Mizuho began coverage on Equity Lifestyle Properties in a report on Tuesday, March 31st. They set an “outperform” rating and a $72.00 target price for the company. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $70.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.27.

Equity Lifestyle Properties Stock Up 0.3%

ELS opened at $63.41 on Monday. Equity Lifestyle Properties has a 12 month low of $58.15 and a 12 month high of $69.00. The company has a market cap of $12.30 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 3.85 and a beta of 0.69. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $64.90 and a 200 day moving average of $63.45.

Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.28). Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The company had revenue of $397.62 million during the quarter, compared to the consensus estimate of $395.71 million. During the same period in the previous year, the business earned $0.57 earnings per share. Equity Lifestyle Properties’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that Equity Lifestyle Properties will post 3.18 EPS for the current year.

Insider Buying and Selling

In other news, Director David J. Contis sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total value of $201,660.00. Following the sale, the director directly owned 14,890 shares of the company’s stock, valued at $1,000,905.80. This represents a 16.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELS. Empowered Funds LLC lifted its stake in Equity Lifestyle Properties by 3.5% during the 4th quarter. Empowered Funds LLC now owns 5,055 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 169 shares during the period. Bessemer Group Inc. raised its holdings in shares of Equity Lifestyle Properties by 30.3% during the first quarter. Bessemer Group Inc. now owns 735 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 171 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Equity Lifestyle Properties by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 43,367 shares of the real estate investment trust’s stock valued at $2,628,000 after purchasing an additional 172 shares during the period. Private Advisor Group LLC boosted its holdings in Equity Lifestyle Properties by 3.7% in the third quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 178 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in Equity Lifestyle Properties by 3.5% in the 1st quarter. Fifth Third Bancorp now owns 5,561 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 189 shares during the period. Institutional investors own 97.21% of the company’s stock.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.