Equity LifeStyle Properties (NYSE:ELS) PT Raised to $76.00 at Evercore ISI

Equity LifeStyle Properties (NYSE:ELS) had its target price raised by investment analysts at Evercore ISI from $73.00 to $76.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective points to a potential upside of 2.10% from the stock’s current price.

ELS has been the topic of a number of other research reports. Truist Financial raised their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $69.25.

Equity LifeStyle Properties Stock Performance

NYSE:ELS opened at $74.44 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The business has a 50 day moving average price of $70.31 and a 200-day moving average price of $65.86. The firm has a market cap of $13.88 billion, a PE ratio of 40.68, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $380.00 million during the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. Equity LifeStyle Properties’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. Equities research analysts predict that Equity LifeStyle Properties will post 2.91 earnings per share for the current year.

Insider Activity

In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Patrick Waite sold 20,820 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Equity LifeStyle Properties

Several large investors have recently modified their holdings of the stock. Mather Group LLC. purchased a new stake in Equity LifeStyle Properties during the 1st quarter valued at about $25,000. Rise Advisors LLC purchased a new stake in shares of Equity LifeStyle Properties during the first quarter valued at approximately $27,000. V Square Quantitative Management LLC purchased a new position in Equity LifeStyle Properties in the 2nd quarter worth approximately $30,000. Blue Trust Inc. lifted its position in Equity LifeStyle Properties by 167.1% in the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 391 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Equity LifeStyle Properties by 36.0% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

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.