Equity Lifestyle Properties Inc. (ELS) Shares Gap Up to $80.84
Equity Lifestyle Properties Inc. (NYSE:ELS) gapped up prior to trading 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.
Several equities research analysts recently issued reports on the stock. Robert W. Baird reissued a “hold” rating on shares of Equity Lifestyle Properties in a report on Tuesday, April 19th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Equity Lifestyle Properties in a report on Saturday, June 4th. Zacks Investment Research raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Thursday, April 21st. Citigroup Inc. increased their price objective on shares of Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $77.00 price objective on shares of Equity Lifestyle Properties in a report on Thursday, July 28th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Equity Lifestyle Properties currently has an average rating of “Hold” and an average price target of C$71.25.
The company’s 50-day moving average price is $79.94 and its 200-day moving average price is $73.16. The stock has a market capitalization of $6.96 billion and a PE ratio of 44.06.
Equity Lifestyle Properties (NYSE:ELS) last released its earnings results on Monday, July 18th. The company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. During the same period last year, the firm earned $0.70 EPS. The firm had revenue of $210.10 million for the quarter, compared to analyst estimates of $114.76 million. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts predict that Equity Lifestyle Properties Inc. will post $3.30 earnings per share for the current fiscal year.
In related news, EVP Roger Maynard sold 15,000 shares of Equity Lifestyle Properties stock in a transaction dated 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 completion of the sale, the executive vice president now owns 155,379 shares of the company’s stock, valued at C$11,131,351.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Other large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new stake in Equity Lifestyle Properties during the fourth quarter worth approximately $2,004,000. Dimensional Fund Advisors LP increased its position 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 worth $68,319,000 after buying an additional 11,066 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. increased its position 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 worth $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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