Equity Lifestyle Properties (NYSE:ELS) Issues Earnings Results

Equity Lifestyle Properties (NYSE:ELS) released its earnings results on Wednesday. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01, Zacks reports. Equity Lifestyle Properties had a net margin of 24.97% and a return on equity of 20.99%.

Equity Lifestyle Properties Trading Down 1.7%

Shares of NYSE:ELS traded down $1.04 during midday trading on Wednesday, hitting $61.86. 1,594,513 shares of the stock traded hands, compared to its average volume of 1,716,401. Equity Lifestyle Properties has a one year low of $58.15 and a one year high of $70.35. The stock has a market capitalization of $11.99 billion, a PE ratio of 31.09, a P/E/G ratio of 3.54 and a beta of 0.77. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $61.81 and its two-hundred day moving average is $61.30.

Institutional Investors Weigh In On Equity Lifestyle Properties

Institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC raised its position in shares of Equity Lifestyle Properties by 14.1% in the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock worth $435,000 after purchasing an additional 804 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Equity Lifestyle Properties by 598.5% during the first quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock valued at $7,964,000 after buying an additional 102,303 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Equity Lifestyle Properties by 62.3% during the first quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust’s stock valued at $1,542,000 after acquiring an additional 8,873 shares in the last quarter. Cetera Investment Advisers raised its holdings in Equity Lifestyle Properties by 111.0% in the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 5,325 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new position in Equity Lifestyle Properties in the 2nd quarter valued at approximately $300,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ELS has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Equity Lifestyle Properties in a research note on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft cut Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research report on Tuesday, January 20th. Zacks Research downgraded Equity Lifestyle Properties from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Wall Street Zen cut Equity Lifestyle Properties from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Truist Financial set a $66.00 target price on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.14.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.