Equity LifeStyle Properties (NYSE:ELS) Downgraded to “Hold” at Zacks Investment Research

Equity LifeStyle Properties (NYSE:ELS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

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

Several other brokerages also recently weighed in on ELS. Barclays started coverage on Equity LifeStyle Properties in a research note on Wednesday, September 1st. They set an “overweight” rating and a $92.00 target price on the stock. Colliers Securities restated a “buy” rating on shares of Equity LifeStyle Properties in a research note on Thursday, September 2nd. Finally, Royal Bank of Canada boosted their target price on Equity LifeStyle Properties from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 20th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $81.88.

Shares of NYSE:ELS traded up $1.70 on Thursday, reaching $85.80. The company had a trading volume of 334,887 shares, compared to its average volume of 789,406. Equity LifeStyle Properties has a 52-week low of $57.97 and a 52-week high of $88.47. The firm’s 50 day simple moving average is $83.20 and its 200-day simple moving average is $80.06. The firm has a market capitalization of $15.77 billion, a PE ratio of 60.42, a PEG ratio of 5.86 and a beta of 0.55. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.40.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results on Sunday, October 17th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. Equity LifeStyle Properties had a return on equity of 20.04% and a net margin of 21.47%. The business had revenue of $332.90 million for the quarter, compared to the consensus estimate of $286.09 million. During the same period last year, the business posted $0.55 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts predict that Equity LifeStyle Properties will post 2.51 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Equity LifeStyle Properties by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 24,427,262 shares of the real estate investment trust’s stock valued at $1,815,189,000 after buying an additional 121,998 shares during the period. FMR LLC lifted its holdings in shares of Equity LifeStyle Properties by 18.3% in the 2nd quarter. FMR LLC now owns 14,413,129 shares of the real estate investment trust’s stock valued at $1,071,039,000 after buying an additional 2,226,950 shares during the period. State Street Corp lifted its holdings in shares of Equity LifeStyle Properties by 3.0% in the 2nd quarter. State Street Corp now owns 7,207,820 shares of the real estate investment trust’s stock valued at $538,145,000 after buying an additional 208,199 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Equity LifeStyle Properties by 58.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,545,730 shares of the real estate investment trust’s stock valued at $486,413,000 after buying an additional 2,417,572 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Equity LifeStyle Properties by 0.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,371,397 shares of the real estate investment trust’s stock valued at $399,148,000 after buying an additional 39,446 shares during the period. 90.71% of the stock is owned by institutional investors.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations; and Home Sales and Rentals Operations.

Further Reading: How do analysts define an oversold condition?

Get a free copy of the Zacks research report on Equity LifeStyle Properties (ELS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Equity LifeStyle Properties (NYSE:ELS)

Receive News & Ratings for Equity LifeStyle Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity LifeStyle Properties and related companies with MarketBeat.com's FREE daily email newsletter.