UBS Group Has Lowered Expectations for Equity Lifestyle Properties (NYSE:ELS) Stock Price

Equity Lifestyle Properties (NYSE:ELS) had its target price decreased by UBS Group from $76.00 to $67.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s price objective indicates a potential upside of 15.56% from the stock’s current price.

ELS has been the subject of a number of other reports. Truist Financial set a $64.00 price target on Equity Lifestyle Properties and gave the stock a “hold” rating in a report on Friday, September 11th. Mizuho reaffirmed a “neutral” rating and set a $65.00 price objective (down from $72.00) on shares of Equity Lifestyle Properties in a research note on Monday, September 21st. Weiss Ratings cut Equity Lifestyle Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 8th. Morgan Stanley reiterated a “mixed” rating and set a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. Finally, Evercore set a $68.00 target price on shares of Equity Lifestyle Properties in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.02.

Equity Lifestyle Properties Stock Down 1.3%

ELS stock opened at $57.98 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02. The company’s 50 day simple moving average is $62.43 and its 200-day simple moving average is $63.23. Equity Lifestyle Properties has a 12 month low of $57.46 and a 12 month high of $69.00. The firm has a market capitalization of $11.25 billion, a PE ratio of 27.87, a P/E/G ratio of 3.49 and a beta of 0.63.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The company had revenue of $397.81 million for the quarter, compared to analyst estimates of $383.66 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts expect that Equity Lifestyle Properties will post 3.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equity Lifestyle Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in ELS. BlackRock Inc. purchased a new position in Equity Lifestyle Properties during the second quarter worth about $1,576,449,000. Cohen & Steers Inc. increased its stake in shares of Equity Lifestyle Properties by 26.8% during the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock valued at $643,331,000 after acquiring an additional 2,246,622 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Equity Lifestyle Properties by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 6,435,365 shares of the real estate investment trust’s stock valued at $401,698,000 after acquiring an additional 66,772 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Equity Lifestyle Properties by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,806,080 shares of the real estate investment trust’s stock worth $175,156,000 after acquiring an additional 19,256 shares during the period. Finally, Centersquare Investment Management LLC lifted its holdings in shares of Equity Lifestyle Properties by 23.9% during the 4th quarter. Centersquare Investment Management LLC now owns 2,433,155 shares of the real estate investment trust’s stock worth $147,474,000 after acquiring an additional 469,777 shares during the period. Hedge funds and other institutional investors own 97.21% of the company’s stock.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns and operates manufactured home communities, recreational vehicle resorts and marinas. Its properties provide residential sites for manufactured homes and park model homes, as well as vacation-oriented accommodations and facilities for RV owners and boaters.

The company serves a range of residents and travelers through long-term manufactured housing communities, seasonal and transient RV resorts, and marina properties.