Truist Financial Raises Equity Lifestyle Properties (NYSE:ELS) Price Target to $69.00

Equity Lifestyle Properties (NYSE:ELS) had its price objective lifted by equities research analysts at Truist Financial from $66.00 to $69.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective suggests a potential upside of 2.76% from the stock’s previous close.

Several other research analysts have also commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Equity Lifestyle Properties in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Equity Lifestyle Properties from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Evercore decreased their price objective on Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating on the stock in a report on Thursday, October 23rd. Barclays reiterated an “overweight” rating and set a $71.00 target price (up previously from $68.00) on shares of Equity Lifestyle Properties in a research report on Thursday, February 5th. Finally, Robert W. Baird set a $73.00 price objective on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Equity Lifestyle Properties presently has an average rating of “Moderate Buy” and a consensus target price of $70.42.

Equity Lifestyle Properties Stock Down 1.1%

Shares of ELS traded down $0.75 during mid-day trading on Wednesday, reaching $67.15. The company’s stock had a trading volume of 146,723 shares, compared to its average volume of 1,835,898. Equity Lifestyle Properties has a 1 year low of $58.15 and a 1 year high of $70.35. The company has a market cap of $13.01 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 3.76 and a beta of 0.76. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $62.76 and a 200 day moving average of $61.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Equity Lifestyle Properties by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust’s stock valued at $1,544,190,000 after purchasing an additional 592,013 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Equity Lifestyle Properties by 303.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock valued at $966,648,000 after purchasing an additional 11,999,874 shares during the period. State Street Corp boosted its holdings in shares of Equity Lifestyle Properties by 1.8% in the second quarter. State Street Corp now owns 13,268,436 shares of the real estate investment trust’s stock worth $824,943,000 after acquiring an additional 237,090 shares during the period. Cohen & Steers Inc. grew its holdings in 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 buying an additional 2,246,622 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Equity Lifestyle Properties by 32.5% during the 3rd quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock worth $414,194,000 after acquiring an additional 1,674,281 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.