Equity Lifestyle Properties (NYSE:ELS) Given New $120.00 Price Target at Wells Fargo & Co

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Equity Lifestyle Properties (NYSE:ELS) had its target price lifted by investment analysts at Wells Fargo & Co from $112.00 to $120.00 in a research note issued to investors on Wednesday, September 18th, BenzingaRatingsTable reports. The firm presently has a “market perform” rating on the real estate investment trust’s stock. Wells Fargo & Co‘s price objective would indicate a potential downside of 11.55% from the company’s previous close.

Separately, Zacks Investment Research raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Equity Lifestyle Properties currently has an average rating of “Hold” and a consensus target price of $116.20.

NYSE ELS traded down $1.49 on Wednesday, reaching $135.67. 233,151 shares of the company’s stock traded hands, compared to its average volume of 430,534. Equity Lifestyle Properties has a 12 month low of $90.90 and a 12 month high of $138.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a 50-day simple moving average of $134.55 and a 200 day simple moving average of $124.69. The stock has a market cap of $12.50 billion, a PE ratio of 35.06, a P/E/G ratio of 4.56 and a beta of 0.20.

Equity Lifestyle Properties shares are set to split before the market opens on Wednesday, October 16th. The 2-1 split was announced on Friday, September 20th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, October 15th.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. Equity Lifestyle Properties had a net margin of 27.02% and a return on equity of 22.00%. The business had revenue of $248.37 million for the quarter, compared to analysts’ expectations of $244.91 million. During the same period last year, the business earned $0.89 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts anticipate that Equity Lifestyle Properties will post 4.2 EPS for the current year.

In other news, CFO Paul Seavey sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $124.80, for a total transaction of $873,600.00. Following the completion of the sale, the chief financial officer now owns 71,571 shares of the company’s stock, valued at $8,932,060.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Roger Maynard sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the sale, the executive vice president now directly owns 130,645 shares of the company’s stock, valued at approximately $16,330,625. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Aperio Group LLC lifted its stake in Equity Lifestyle Properties by 10.6% in the second quarter. Aperio Group LLC now owns 33,466 shares of the real estate investment trust’s stock worth $4,061,000 after acquiring an additional 3,210 shares during the period. Seeyond purchased a new stake in Equity Lifestyle Properties in the second quarter worth $1,554,000. Redpoint Investment Management Pty Ltd lifted its stake in Equity Lifestyle Properties by 30.1% in the second quarter. Redpoint Investment Management Pty Ltd now owns 7,685 shares of the real estate investment trust’s stock worth $932,000 after acquiring an additional 1,779 shares during the period. Russell Investments Group Ltd. lifted its stake in Equity Lifestyle Properties by 1.6% in the second quarter. Russell Investments Group Ltd. now owns 669,201 shares of the real estate investment trust’s stock worth $80,852,000 after acquiring an additional 10,822 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Equity Lifestyle Properties by 295.9% in the second quarter. Acadian Asset Management LLC now owns 15,203 shares of the real estate investment trust’s stock worth $1,844,000 after acquiring an additional 11,363 shares during the period. 94.53% of the stock is owned by institutional investors.

Equity Lifestyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (“REIT”) with headquarters in Chicago. As of January 28, 2019, we own or have an interest in 409 quality properties in 33 states and British Columbia consisting of 153,984 sites.

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