Royal Bank Of Canada Reaffirms “Outperform” Rating for Equity Lifestyle Properties (NYSE:ELS)

Equity Lifestyle Properties (NYSE:ELS)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank Of Canada in a report issued on Friday,Benzinga reports. They presently have a $70.00 price target on the real estate investment trust’s stock. Royal Bank Of Canada’s target price points to a potential upside of 11.77% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Evercore ISI lowered their target price on Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating for the company in a research note on Thursday, October 23rd. Robert W. Baird set a $73.00 price target on Equity Lifestyle Properties in a report on Friday. Wall Street Zen lowered Equity Lifestyle Properties from a “hold” rating to a “sell” rating in a research report on Saturday, January 24th. UBS Group set a $67.00 target price on shares of Equity Lifestyle Properties and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, Truist Financial set a $66.00 price target on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a research 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Equity Lifestyle Properties currently has an average rating of “Moderate Buy” and an average target price of $69.46.

Equity Lifestyle Properties Price Performance

Shares of NYSE ELS traded down $0.14 during trading on Friday, reaching $62.63. The company had a trading volume of 302,608 shares, compared to its average volume of 1,682,889. Equity Lifestyle Properties has a 52 week low of $58.15 and a 52 week high of $70.35. The business’s 50 day moving average price is $61.83 and its 200-day moving average price is $61.31. The stock has a market cap of $12.14 billion, a PE ratio of 31.12, a PEG ratio of 3.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.05 and a current ratio of 0.05.

Hedge Funds Weigh In On Equity Lifestyle Properties

Several institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC raised its stake in Equity Lifestyle Properties by 14.1% during the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock worth $435,000 after buying an additional 804 shares during the period. Jane Street Group LLC increased its holdings in shares of Equity Lifestyle Properties by 598.5% in the first quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock worth $7,964,000 after acquiring an additional 102,303 shares in the last quarter. Intech Investment Management LLC raised 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 worth $1,542,000 after purchasing an additional 8,873 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Equity Lifestyle Properties by 12.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,620 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 178 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Equity Lifestyle Properties by 55.9% during the 2nd quarter. Signaturefd LLC now owns 2,729 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 979 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

About Equity Lifestyle Properties

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.