Great Lakes Advisors LLC purchased a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 243,110 shares of the real estate investment trust’s stock, valued at approximately $15,668,000. Great Lakes Advisors LLC owned approximately 0.13% of Equity Lifestyle Properties as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Equity Lifestyle Properties by 11.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 337,948 shares of the real estate investment trust’s stock worth $20,206,000 after purchasing an additional 34,946 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Equity Lifestyle Properties by 1,104.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 673,072 shares of the real estate investment trust’s stock valued at $40,794,000 after buying an additional 617,202 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Equity Lifestyle Properties by 13.4% in the 4th quarter. Legal & General Group Plc now owns 1,365,902 shares of the real estate investment trust’s stock valued at $82,787,000 after buying an additional 161,210 shares in the last quarter. BROOKFIELD Corp ON purchased a new position in shares of Equity Lifestyle Properties in the 1st quarter worth approximately $19,429,000. Finally, Resolution Capital Ltd grew its position in shares of Equity Lifestyle Properties by 3.3% in the 1st quarter. Resolution Capital Ltd now owns 1,885,292 shares of the real estate investment trust’s stock worth $117,680,000 after buying an additional 59,809 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on ELS. Odeon Capital Group set a $65.00 price objective on shares of Equity Lifestyle Properties in a report on Thursday, July 9th. Weiss Ratings raised shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Wells Fargo & Company cut their price target on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Morgan Stanley reaffirmed a “mixed” rating and issued a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Finally, Truist Financial set a $67.00 price objective on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Equity Lifestyle Properties currently has a consensus rating of “Moderate Buy” and an average price target of $68.52.
Equity Lifestyle Properties Trading Down 0.5%
Equity Lifestyle Properties stock opened at $64.57 on Wednesday. The firm has a market cap of $12.53 billion, a PE ratio of 31.04, a P/E/G ratio of 3.82 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a 12 month low of $58.72 and a 12 month high of $69.00. The stock’s 50 day simple moving average is $64.64 and its two-hundred day simple moving average is $64.58. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31.
Equity Lifestyle Properties (NYSE:ELS – Get Free Report) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm had revenue of $397.81 million during the quarter, compared to analyst estimates of $383.66 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current year.
Equity Lifestyle Properties Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be given a dividend of $0.5425 per share. The ex-dividend date is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.4%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 104.33%.
About Equity Lifestyle Properties
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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