Evercore ISI Increases Equity LifeStyle Properties (NYSE:ELS) Price Target to $77.00

Equity LifeStyle Properties (NYSE:ELS) had its price target upped by stock analysts at Evercore ISI from $76.00 to $77.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would suggest a potential upside of 12.08% from the company’s current price.

ELS has been the subject of several other research reports. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 price target for the company. Truist Financial boosted their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.60.

Equity LifeStyle Properties Stock Performance

Equity LifeStyle Properties stock opened at $68.70 on Monday. The company has a 50 day moving average price of $71.19 and a 200-day moving average price of $66.78. 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 company has a market capitalization of $12.81 billion, a PE ratio of 37.54, a P/E/G ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The company had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. During the same period in the prior year, the firm posted $0.71 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, equities analysts forecast that Equity LifeStyle Properties will post 2.92 earnings per share for the current year.

Insider Activity

In other news, COO Patrick Waite sold 20,820 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the sale, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was 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 $19,705,886.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction on 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,808 shares of company stock worth $6,348,011. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC grew its position in Equity LifeStyle Properties by 31.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 146 shares during the period. Johnson Investment Counsel Inc. grew its position in shares of Equity LifeStyle Properties by 0.6% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock valued at $1,745,000 after acquiring an additional 152 shares during the period. Toronto Dominion Bank grew its position in shares of Equity LifeStyle Properties by 0.9% during the 2nd quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock valued at $1,106,000 after acquiring an additional 154 shares during the period. Wellington Management Group LLP grew its position in shares of Equity LifeStyle Properties by 0.3% during the 4th quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock valued at $4,224,000 after acquiring an additional 155 shares during the period. Finally, LRI Investments LLC grew its position in shares of Equity LifeStyle Properties by 8.7% during the 2nd quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 171 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.

About Equity LifeStyle Properties

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.