Equity Lifestyle Properties (NYSE:ELS) Given New $71.00 Price Target at Robert W. Baird

Equity Lifestyle Properties (NYSE:ELS) had its price objective reduced by investment analysts at Robert W. Baird from $74.00 to $71.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s target price indicates a potential upside of 14.71% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley reaffirmed a “mixed” rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Wells Fargo & Company set a $64.00 target price on shares of Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research note on Monday. UBS Group lowered their price target on Equity Lifestyle Properties from $76.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Royal Bank Of Canada dropped their price target on Equity Lifestyle Properties from $71.00 to $68.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 13th. Finally, Odeon Capital Group set a $65.00 price target on Equity Lifestyle Properties in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Equity Lifestyle Properties currently has an average rating of “Hold” and a consensus target price of $67.09.

Equity Lifestyle Properties Stock Performance

Shares of Equity Lifestyle Properties stock opened at $61.90 on Wednesday. The firm’s fifty day simple moving average is $61.53 and its 200-day simple moving average is $63.04. Equity Lifestyle Properties has a 12 month low of $57.46 and a 12 month high of $69.00. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 3.49 and a beta of 0.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Tuesday, October 20th. The real estate investment trust reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.34). The business had revenue of $409.90 million for the quarter, compared to analyst estimates of $402.75 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. As a group, equities analysts forecast that Equity Lifestyle Properties will post 3.20 earnings per share for the current year.

Hedge Funds Weigh In On Equity Lifestyle Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of ELS. BlackRock Inc. purchased a new position in Equity Lifestyle Properties during the 2nd quarter worth $1,576,449,000. Bank of America Corp DE purchased a new stake in shares of Equity Lifestyle Properties in the second quarter valued at about $125,301,000. Canada Pension Plan Investment Board purchased a new stake in shares of Equity Lifestyle Properties in the second quarter valued at about $91,434,000. Bank of New York Mellon Corp acquired a new position in shares of Equity Lifestyle Properties during the second quarter worth about $89,012,000. Finally, Legal & General Group Plc acquired a new position in shares of Equity Lifestyle Properties during the second quarter worth about $69,938,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns, operates and manages manufactured housing communities, recreational vehicle resorts and campgrounds, and marinas. Its properties are designed to provide residential and vacation accommodations, with offerings that range from long-term manufactured home sites to seasonal and transient RV sites and boat storage.

The company serves residents, vacationers and boat owners across the United States. Its portfolio is concentrated in locations with favorable climates, recreational appeal and access to coastal, lakefront or other leisure destinations.