Zacks Investment Research Upgrades Equity Lifestyle Properties (ELS) to “Buy”

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Equity Lifestyle Properties (NYSE:ELS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $127.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.45% from the company’s current price.

According to Zacks, “Equity Lifestyle Properties, Inc. is a self-administered, self-managed, real estate investment trust. “

Several other analysts have also commented on the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $104.00 price objective on shares of Equity Lifestyle Properties in a report on Monday, January 28th. Citigroup set a $107.00 price objective on Equity Lifestyle Properties and gave the stock a “hold” rating in a report on Wednesday, December 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $106.08.

Shares of ELS opened at $113.95 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.04 and a quick ratio of 0.04. Equity Lifestyle Properties has a one year low of $83.38 and a one year high of $114.35. The firm has a market capitalization of $10.19 billion, a P/E ratio of 29.44, a PEG ratio of 4.94 and a beta of 0.34.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, January 28th. The real estate investment trust reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.41). Equity Lifestyle Properties had a return on equity of 19.46% and a net margin of 22.62%. The firm had revenue of $243.50 million during the quarter, compared to the consensus estimate of $232.05 million. During the same period in the previous year, the firm earned $0.84 EPS. The business’s revenue was up 5.9% on a year-over-year basis. Equities research analysts predict that Equity Lifestyle Properties will post 4.18 EPS for the current fiscal year.

In other Equity Lifestyle Properties news, Director David J. Contis sold 6,581 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $105.53, for a total transaction of $694,492.93. Following the completion of the sale, the director now owns 1,378 shares of the company’s stock, valued at $145,420.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Piedmont Investment Advisors Inc. grew its holdings in Equity Lifestyle Properties by 1.5% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 6,221 shares of the real estate investment trust’s stock valued at $604,000 after purchasing an additional 94 shares during the period. Dean Investment Associates LLC grew its holdings in Equity Lifestyle Properties by 1.0% during the fourth quarter. Dean Investment Associates LLC now owns 13,591 shares of the real estate investment trust’s stock valued at $1,320,000 after purchasing an additional 139 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Equity Lifestyle Properties by 6.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,756 shares of the real estate investment trust’s stock valued at $365,000 after purchasing an additional 223 shares during the period. Cigna Investments Inc. New grew its holdings in Equity Lifestyle Properties by 5.1% during the fourth quarter. Cigna Investments Inc. New now owns 5,312 shares of the real estate investment trust’s stock valued at $515,000 after purchasing an additional 258 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in Equity Lifestyle Properties by 4.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,223 shares of the real estate investment trust’s stock valued at $604,000 after purchasing an additional 270 shares during the period. 95.06% 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 28, 2019, we own or have an interest in 409 quality properties in 33 states and British Columbia consisting of 153,984 sites.

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Analyst Recommendations for Equity Lifestyle Properties (NYSE:ELS)

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