Cantor Fitzgerald Starts Equity LifeStyle Properties (ELS) at Hold; Utilization Trumps Depreciation
ELS Hot Sheet
Rating Summary:1 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Cantor Fitzgerald initiates coverage on Equity LifeStyle Properties (NYSE: ELS) with a Hold. PT $72.00.
Cantor analyst says, "ELS is often considered 'defensive' due to low-Beta cash flows. That said, recent acquisitions have fueled impressive FFO growth--although unlikely to be repeated for some time. Rents track CPI and vacancy remains stubborn, leading to below-average core growth rates. We consider ELS to be appropriately priced at current levels and would grow constructive given 1) increases in portfolio utilization rates, 2) GDP growth contraction, or 3) a more attractive valuation (~$64.00 levels)."
For an analyst ratings summary and ratings history on Equity LifeStyle Properties click here. For more ratings news on Equity LifeStyle Properties click here.
Shares of Equity LifeStyle Properties closed at $67.67 yesterday, with a 52 week range of $55.19-$73.27.
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Cantor analyst says, "ELS is often considered 'defensive' due to low-Beta cash flows. That said, recent acquisitions have fueled impressive FFO growth--although unlikely to be repeated for some time. Rents track CPI and vacancy remains stubborn, leading to below-average core growth rates. We consider ELS to be appropriately priced at current levels and would grow constructive given 1) increases in portfolio utilization rates, 2) GDP growth contraction, or 3) a more attractive valuation (~$64.00 levels)."
For an analyst ratings summary and ratings history on Equity LifeStyle Properties click here. For more ratings news on Equity LifeStyle Properties click here.
Shares of Equity LifeStyle Properties closed at $67.67 yesterday, with a 52 week range of $55.19-$73.27.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
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