Investors, Analysts Weigh in on Equity LifeStyle Properties

Collage of ELS, photos, symbols and logo from an annual report.

Coming off of their most recent earnings report on October 18th, which included a 7.7 percent increase in revenue, Equity LifeStyle Properties, Inc. (NYSE:ELS) saw one investment firm lower its stake in the company.

Venturi Wealth Management LLC lowered its position by 5.3% during the second quarter to 30,680 shares after selling 1,731 shares during the period. The position is worth $2,456,000.

Other investors also made moves in their ELS positions:

  • Emerald Acquisition Ltd. purchased a stake in the company worth $39,591,000.
  • NN Investment Partners Holdings N.V. raised its position by 58.2% in the second quarter.
  • Bank of Montreal purchased a new position in Equity Lifestyle Properties during the second quarter worth $12,984,000.
  • Renaissance Technologies LLC raised its position by 18.7 percent in the first quarter.
  • Henderson Group PLC raised its position by 1,428.30 percent in the second quarter.

As the Daily Business News recently reported, ELS reported $0.83 earnings per share (EPS) for the quarter, and revenue of $226.20 million for the quarter, compared to the consensus estimate of $116.42 million. The stock has a market cap of $6.36 billion.

Marguerite Nader. Credit: Bloomberg.

Analysts also provided guidance recently, including Zacks Investment Research downgrading shares from “buy” to “hold” on October 19th.

Evercore ISI gave the company a “hold” rating with a $74.00 price target on the stock on October 14th.

The Street downgraded shares from a “buy” rating to a “hold” rating on October 7th.

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.

As Daily Business News readers are aware, ELS is a REIT – a Real Estate Investment Trust – and is one of the largest owner/operators of manufactured home communities and RV parks in the nation. ELS is also one of the manufactured home industry connected stocks tracked every business day by the Daily Business News, with the most recent report, linked here. ##

(Editor’s Note: for A Cup of Coffee interview with ELS CEO Nader, click here.)

(Image credits are as shown above.)

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

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