Equity Lifestyle Properties Inc. (ELS) Shares Gap Up to $80.84
Shares of Equity Lifestyle Properties Inc. (NYSE:ELS) gapped up before the market opened on Wednesday . The stock had previously closed at $80.77, but opened at $80.84. Equity Lifestyle Properties shares last traded at $81.34, with a volume of 72,737 shares traded.
ELS has been the topic of several analyst reports. Zacks Investment Research upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Thursday, April 21st. Cantor Fitzgerald reiterated a “hold” rating on shares of Equity Lifestyle Properties in a research note on Saturday, June 4th. Robert W. Baird reiterated a “hold” rating on shares of Equity Lifestyle Properties in a research note on Tuesday, April 19th. BMO Capital Markets reiterated a “hold” rating and issued a $77.00 target price on shares of Equity Lifestyle Properties in a research note on Thursday, July 28th. Finally, Citigroup Inc. lifted their target price on Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Equity Lifestyle Properties presently has a consensus rating of “Hold” and a consensus price target of C$71.25.
The firm has a market cap of $6.96 billion and a PE ratio of 44.06. The firm’s 50 day moving average price is $79.94 and its 200-day moving average price is $73.16.
Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The business earned $210.10 million during the quarter, compared to analysts’ expectations of $114.76 million. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 EPS. Analysts anticipate that Equity Lifestyle Properties Inc. will post $3.30 EPS for the current year.
In other Equity Lifestyle Properties news, EVP Roger Maynard sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of C$71.64, for a total transaction of C$1,074,600.00. Following the sale, the executive vice president now owns 155,379 shares in the company, valued at C$11,131,351.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of hedge funds have recently made changes to their positions in ELS. Dimensional Fund Advisors LP boosted its stake in shares of Equity Lifestyle Properties by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,024,730 shares of the company’s stock valued at $68,319,000 after buying an additional 11,066 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Equity Lifestyle Properties during the fourth quarter valued at about $2,004,000. Finally, Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of Equity Lifestyle Properties by 1.9% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 15,071 shares of the company’s stock valued at $1,006,000 after buying an additional 287 shares during the last quarter.
Equity LifeStyle Properties, Inc is a real estate investment trust. The Company is an integrated owner and operator of lifestyle-oriented properties (Properties) consisting primarily of manufactured home (MH) communities, and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations, and Home Sales and Rentals Operations.
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