Equity LifeStyle Properties Shares Rise As Analyst Forecasts Above-Average Profit Growth NEW YORK (AP) -- Shares of Equity LifeStyle Properties Inc. are rising after an analyst initiated started covering the stock and rated it "Outperform." In a note to clients Tuesday, Keefe, Bruyette & Woods analyst Bill Carrier said the real estate investment trust is positioned for above-average earnings growth. Shares jumped $3.55, or 7.6 percent, to close at $50.22 Tuesday. Shares have traded between $39.70 and $57.35 in the past 12 months. Carrier said the Chicago-based company represents an attractive investment because it owns high-quality properties in good locales, with more than half of its sites in retirement hotspots such as Florida, Arizona and California. "Even during this period of slow new home sales, in our view, Equity LifeStyle Properties is well positioned to grow earnings at an above-average pace with below-average risk," Carrier said. Carrier forecasts 2008 earnings of $3.24 per share and a target price of $53.
Tuesday, March 18, 2008
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