Equity Lifestyle price target lowered to $69 from $72 at RBC Capital

RBC Capital lowered the firm’s price target on Equity Lifestyle (ELS) to $69 from $72 and keeps a Sector Perform rating on the shares. The firm updated residential real estate investment trust estimates based on recent market rent trends, leasing updates, and higher costs of debt. Market rents generally came in below expectations in Q4, particularly in the Sun Belt, while the only post-quarter leasing update was also behind expectations, the analyst tells investors in a research note. As a resulRead More