Equity LifeStyle Properties (NYSE:ELS) Price Target Cut to $72.00

Equity LifeStyle Properties (NYSE:ELS) had its price objective reduced by investment analysts at Barclays from $78.00 to $72.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target would suggest a potential upside of 17.61% from the stock’s previous close.

Several other brokerages have also recently issued reports on ELS. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Truist Financial decreased their price objective on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft started coverage on Equity LifeStyle Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price objective for the company. Finally, Wolfe Research raised Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Hold” and a consensus target price of $69.55.

Equity LifeStyle Properties Stock Performance

ELS traded up $0.47 on Friday, reaching $61.22. 60,371 shares of the stock were exchanged, compared to its average volume of 1,237,625. The company’s 50-day moving average price is $64.53 and its 200 day moving average price is $67.08. Equity LifeStyle Properties has a fifty-two week low of $60.47 and a fifty-two week high of $74.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a market capitalization of $11.42 billion, a PE ratio of 33.45, a PEG ratio of 4.04 and a beta of 0.69.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several large investors have recently bought and sold shares of the company. CWM LLC grew its position in Equity LifeStyle Properties by 10.8% in the third quarter. CWM LLC now owns 2,029 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 198 shares during the period. DAVENPORT & Co LLC raised its stake in Equity LifeStyle Properties by 6.7% in the third quarter. DAVENPORT & Co LLC now owns 8,678 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 546 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Equity LifeStyle Properties by 2,830.2% in the third quarter. Exchange Traded Concepts LLC now owns 8,937 shares of the real estate investment trust’s stock valued at $569,000 after buying an additional 8,632 shares in the last quarter. Oak Thistle LLC increased its position in shares of Equity LifeStyle Properties by 30.7% during the third quarter. Oak Thistle LLC now owns 4,360 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 1,024 shares in the last quarter. Finally, Copeland Capital Management LLC increased its position in shares of Equity LifeStyle Properties by 23.7% during the third quarter. Copeland Capital Management LLC now owns 19,040 shares of the real estate investment trust’s stock worth $1,213,000 after purchasing an additional 3,643 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

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.