Royal Bank Of Canada Issues Pessimistic Forecast for Equity Lifestyle Properties (NYSE:ELS) Stock Price

Equity Lifestyle Properties (NYSE:ELS) had its price target reduced by Royal Bank Of Canada from $71.00 to $68.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 15.09% from the company’s current price.

A number of other equities research analysts have also issued reports on ELS. Barclays set a $69.00 target price on Equity Lifestyle Properties and gave the company an “equal weight” rating in a research report on Monday, August 17th. Weiss Ratings downgraded Equity Lifestyle Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 8th. Jefferies Financial Group raised Equity Lifestyle Properties to a “strong-buy” rating in a research report on Monday. Mizuho reaffirmed a “neutral” rating and set a $65.00 price target (down from $72.00) on shares of Equity Lifestyle Properties in a research note on Monday, September 21st. Finally, UBS Group lowered their price objective on shares of Equity Lifestyle Properties from $76.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.88.

Equity Lifestyle Properties Stock Down 0.2%

Shares of ELS traded down $0.10 during midday trading on Tuesday, hitting $59.09. The stock had a trading volume of 248,930 shares, compared to its average volume of 1,657,160. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 3.50 and a beta of 0.63. The company has a 50 day simple moving average of $62.04 and a two-hundred day simple moving average of $63.13. Equity Lifestyle Properties has a twelve month low of $57.46 and a twelve month high of $69.00. 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 posted its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.22). The firm had revenue of $397.81 million for the quarter, compared to analyst estimates of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 earnings per share. On average, analysts anticipate that Equity Lifestyle Properties will post 3.20 EPS for the current year.

Hedge Funds Weigh In On Equity Lifestyle Properties

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Equity Lifestyle Properties during the 2nd quarter worth about $1,576,449,000. Principal Financial Group Inc. boosted its holdings in shares of Equity Lifestyle Properties by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 6,435,365 shares of the real estate investment trust’s stock worth $401,698,000 after buying an additional 66,772 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Equity Lifestyle Properties by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,806,080 shares of the real estate investment trust’s stock worth $175,156,000 after buying an additional 19,256 shares during the period. Bank of America Corp DE bought a new stake in shares of Equity Lifestyle Properties during the 2nd quarter worth about $125,301,000. Finally, Resolution Capital Ltd boosted its holdings in shares of Equity Lifestyle Properties by 3.3% during the 1st quarter. Resolution Capital Ltd now owns 1,885,292 shares of the real estate investment trust’s stock worth $117,680,000 after buying an additional 59,809 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns and operates manufactured home communities, recreational vehicle resorts and marinas. Its properties provide residential sites for manufactured homes and park model homes, as well as vacation-oriented accommodations and facilities for RV owners and boaters.

The company serves a range of residents and travelers through long-term manufactured housing communities, seasonal and transient RV resorts, and marina properties.