RBC Capital has recently lowered the price target for Equity Lifestyle (ELS) from $72 to $69 while maintaining a Sector Perform rating on the shares. This decision was made based on updated estimates for the residential real estate investment trust, taking into account recent market rent trends, leasing updates, and increased costs of debt. Market rents in Q4 were below expectations, especially in the Sun Belt region, and post-quarter leasing updates also fell short of expectations. As a result, RBC adjusted its spread assumptions for 2025 slightly. This news was reported first on TheFly, a leading source for real-time, market-moving financial news. To stay updated on the latest stock market trends and performance, visit TipRanks. For more information on Equity Lifestyle (ELS) and related topics, visit the website.
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