Equity LifeStyle Properties (NYSE:ELS) Rating Increased to Strong-Buy at UBS Group

Equity LifeStyle Properties (NYSE:ELS) was upgraded by analysts at UBS Group to a “strong-buy” rating in a report released on Thursday, Zacks.com reports.

Several other brokerages also recently commented on ELS. Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Truist Financial boosted their target price on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Finally, Evercore ISI raised their target price on Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Equity LifeStyle Properties presently has an average rating of “Moderate Buy” and an average target price of $71.38.

Equity LifeStyle Properties Stock Up 0.6 %

Equity LifeStyle Properties stock opened at $67.79 on Thursday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties has a 1-year low of $59.82 and a 1-year high of $76.60. The firm’s fifty day simple moving average is $71.47 and its 200-day simple moving average is $66.46. The company has a market capitalization of $12.64 billion, a P/E ratio of 35.49, a P/E/G ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.23). The company had revenue of $380.00 million for the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. Equity LifeStyle Properties’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.66 earnings per share. Sell-side analysts forecast that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Patrick Waite sold 20,820 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction 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 $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction dated 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 owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock worth $6,348,011 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Equity LifeStyle Properties

Several institutional investors and hedge funds have recently made changes to their positions in ELS. Vanguard Group Inc. increased its holdings in Equity LifeStyle Properties by 1.0% in the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock valued at $1,614,469,000 after purchasing an additional 240,853 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Equity LifeStyle Properties by 7.8% during the second quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock valued at $300,237,000 after purchasing an additional 331,945 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Equity LifeStyle Properties by 5.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock valued at $209,630,000 after purchasing an additional 153,715 shares in the last quarter. Boston Partners raised its holdings in Equity LifeStyle Properties by 4.2% in the first quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock worth $183,035,000 after purchasing an additional 113,891 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Equity LifeStyle Properties by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock worth $176,250,000 after purchasing an additional 178,258 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

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.