In a report released today, Barry Oxford from Colliers Securities reiterated a Buy rating on Equity Lifestyle (ELS – Research Report), with a price target of $70.00.
Barry Oxford’s rating is based on Equity Lifestyle Properties’ strong position as a leading operator in the manufactured home communities, RV resorts, and campgrounds sector across North America. The company is well-regarded for its ability to create appealing communities in desirable locations, which caters to a wide range of customer needs. The manufactured housing sector is currently experiencing high valuations due to its resilient cash flows and capacity to endure economic fluctuations, along with a growing demand for affordable housing that is expected to support long-term growth.
Additionally, Equity Lifestyle Properties reported core FFO numbers that align with consensus estimates, showing a significant year-over-year increase. Despite a slight decrease in occupancy, the company demonstrated revenue growth and controlled expenses effectively. The company’s strong balance sheet, with robust debt metrics and no immediate debt maturities, further supports its financial stability. Although no acquisitions were made in the first quarter of 2025, the company’s strategic focus and financial health underpin Barry Oxford’s Buy rating.
In another report released on April 17, Wells Fargo also maintained a Buy rating on the stock with a $82.00 price target.