Cohen & Steers Inc. Acquires 2,246,622 Shares of Equity Lifestyle Properties, Inc. $ELS

Cohen & Steers Inc. raised its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELSFree Report) by 26.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,614,040 shares of the real estate investment trust’s stock after acquiring an additional 2,246,622 shares during the period. Equity Lifestyle Properties comprises approximately 1.2% of Cohen & Steers Inc.’s portfolio, making the stock its 22nd biggest holding. Cohen & Steers Inc. owned about 0.05% of Equity Lifestyle Properties worth $643,331,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ELS. Daiwa Securities Group Inc. boosted its stake in shares of Equity Lifestyle Properties by 253.7% during the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock valued at $191,025,000 after purchasing an additional 2,257,299 shares during the period. Norges Bank purchased a new stake in shares of Equity Lifestyle Properties during the fourth quarter valued at approximately $125,352,000. Centersquare Investment Management LLC boosted its stake in shares of Equity Lifestyle Properties by 2,448.8% during the third quarter. Centersquare Investment Management LLC now owns 1,963,378 shares of the real estate investment trust’s stock valued at $119,177,000 after purchasing an additional 1,886,348 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Equity Lifestyle Properties by 32.5% during the third 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 purchasing an additional 1,674,281 shares during the period. Finally, Royal London Asset Management Ltd. boosted its stake in shares of Equity Lifestyle Properties by 1,520.4% during the second quarter. Royal London Asset Management Ltd. now owns 1,771,803 shares of the real estate investment trust’s stock valued at $109,267,000 after purchasing an additional 1,662,458 shares during the period. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Insider Buying and Selling

In related news, Director David J. Contis sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total value of $201,660.00. Following the completion of 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 legal filing with the SEC, which is available through this link. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays dropped their price objective on Equity Lifestyle Properties from $71.00 to $68.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Robert W. Baird increased their price objective on Equity Lifestyle Properties from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Wednesday, April 15th. BMO Capital Markets reissued an “outperform” rating and set a $75.00 price objective (up from $72.00) on shares of Equity Lifestyle Properties in a research note on Wednesday, February 18th. Finally, Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the company a “hold” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.20.

Read Our Latest Report on Equity Lifestyle Properties

Equity Lifestyle Properties Stock Performance

Shares of ELS stock opened at $64.80 on Friday. The stock has a fifty day moving average of $63.20 and a 200 day moving average of $63.62. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $69.00. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.89 and a beta of 0.67. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29.

Equity Lifestyle Properties (NYSE:ELSGet Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 EPS for the quarter, missing analysts’ consensus estimates 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 business earned $0.57 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a $0.5425 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.17 dividend on an annualized basis and a yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 108.50%.

Equity Lifestyle Properties Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Equity Lifestyle Properties (NYSE:ELS)

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