Compass Point raised the firm’s price target on Equity Lifestyle to $710 from $65 and keeps a Neutral rating on the shares after the company reported earnings metrics that were in line with expectations and in line with guidance that was adjusted a week ago to apply GAAP accrual methodology to the calculation of normalized FFO. The shares are “expensive,” says the analyst, who thinks opportunities may arise for a better entry point to establish or expand a position.
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Read More on ELS:
- Equity Lifestyle Properties Announces Dividend Increase for 2024
- Equity Lifestyle initiated with a Hold at Deutsche Bank
- Equity Lifestyle raises annual dividend 6.7% to $1.91 per share
- Equity Lifestyle reports Q4 normalized FFO 71c, consensus 72c
- Equity Lifestyle price target lowered to $72 from $73 at Truist
