Norges Bank bought a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,068,181 shares of the real estate investment trust’s stock, valued at approximately $125,352,000.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Equity Lifestyle Properties by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust’s stock worth $1,544,190,000 after buying an additional 592,013 shares during the period. Victory Capital Management Inc. boosted its position in Equity Lifestyle Properties by 32.5% in the 3rd quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock valued at $414,194,000 after buying an additional 1,674,281 shares during the period. Geode Capital Management LLC boosted its position in Equity Lifestyle Properties by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 4,712,562 shares of the real estate investment trust’s stock valued at $285,048,000 after buying an additional 100,364 shares during the period. Daiwa Securities Group Inc. grew its stake in Equity Lifestyle Properties by 253.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock worth $191,025,000 after acquiring an additional 2,257,299 shares in the last quarter. Finally, Boston Partners grew its stake in Equity Lifestyle Properties by 2.1% in the 3rd quarter. Boston Partners now owns 2,902,967 shares of the real estate investment trust’s stock worth $176,227,000 after acquiring an additional 60,852 shares in the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on ELS. Deutsche Bank Aktiengesellschaft raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Wednesday, April 15th. Mizuho assumed coverage on Equity Lifestyle Properties in a research note on Tuesday, March 31st. They issued an “outperform” rating and a $72.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a report on Monday. BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 target price (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. Finally, Robert W. Baird upped their target price on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.20.
Insider Activity at Equity Lifestyle Properties
In related news, Director David J. Contis sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total transaction of $201,660.00. Following the sale, the director owned 14,890 shares of the company’s stock, valued at $1,000,905.80. This trade represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.80% of the company’s stock.
Equity Lifestyle Properties Trading Up 0.5%
NYSE ELS opened at $61.77 on Friday. Equity Lifestyle Properties, Inc. has a one year low of $58.15 and a one year high of $69.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.04 and a current ratio of 0.04. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 3.74 and a beta of 0.67. The company’s 50-day simple moving average is $63.12 and its two-hundred day simple moving average is $63.57.
Equity Lifestyle Properties (NYSE:ELS – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.28). Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The business had revenue of $397.62 million during the quarter, compared to analysts’ expectations of $395.71 million. During the same period in the previous year, the company posted $0.57 EPS. Equity Lifestyle Properties’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current fiscal year.
Equity Lifestyle Properties Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a $0.5425 dividend. The ex-dividend date is Friday, June 26th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.5%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 108.50%.
Equity Lifestyle Properties Profile
Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.
In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.
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