** BMO Equity Research cuts Equity Lifestyle Properties ELS.N PT to $77 from $78, representing a 19.5% upside to the stock's last close

** On Monday, the REIT reported Q1 adjusted fund from operations of 83 cents per share, in line with Wall Street estimates, as per data compiled by LSEG

** Co's revenue for the quarter was $387 million while the analyst estimate was $399 million

** Brokerage says ELS saw continued weakness in its transient RV business during quarter, and a rare slippage on manufactured homes occupancy which was impacted by last year's Florida hurricanes

** 9 of 14 brokerages rate the stock "buy" or higher, 5 "hold"; their median PT is $73.50 - LSEG data

** As of last close, stock had fallen 3.3% YTD, compared with a 5.5% decline YTD in the S&P Equity Real Estate Investment Trusts index .SPMDCREC

(Reporting by Apratim Sarkar)