Evercore ISI analyst Steve Sakwa lowered the firm’s price target on Equity Lifestyle (ELS) to $73 from $74 and keeps an In Line rating on the shares after the company reported Q4 normalized FFO of 76c, which matched the midpoint of the guidance range as well as the firm’s estimate and consensus. After updating the model for Q4 results and tweaking assumptions, the firm notes that its FY25 estimate is unchanged at $3.08 while its FY26 estimate “slipped a penny” from $3.27 to $3.26.
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Read More on ELS:
- Equity Lifestyle price target raised to $73 from $72 at Baird
- Closing Bell Movers: Graco down 5% as earnings, guidance miss
- Equity Lifestyle reports Q4 normalized FFO 76c, consensus 76c
- Equity Lifestyle sees FY25 normalized FFO $3.01-$3.11, consensus $3.11
- Equity Lifestyle sees Q1 normalized FFO 80c-86c, consensus 72c