Great Lakes Advisors LLC acquired a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 35,559 shares of the real estate investment trust’s stock, valued at approximately $2,292,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Equity Lifestyle Properties in the second quarter valued at $1,576,449,000. Price T Rowe Associates Inc. MD lifted its stake in Equity Lifestyle Properties by 303.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock worth $966,648,000 after acquiring an additional 11,999,874 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Equity Lifestyle Properties by 253.7% during the 3rd 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 acquiring an additional 2,257,299 shares during the period. Cohen & Steers Inc. boosted its holdings in Equity Lifestyle Properties by 26.8% during the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock valued at $643,331,000 after acquiring an additional 2,246,622 shares during the period. Finally, Norges Bank acquired a new position in Equity Lifestyle Properties in the 4th quarter valued at about $125,352,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on ELS shares. Barclays set a $69.00 price target on shares of Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research report on Monday. Truist Financial set a $67.00 target price on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Odeon Capital Group set a $65.00 price target on shares of Equity Lifestyle Properties in a research report on Thursday, July 9th. Wells Fargo & Company dropped their price target on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Finally, Morgan Stanley reiterated a “mixed” rating and issued a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.52.
Equity Lifestyle Properties Stock Performance
Shares of ELS stock opened at $65.48 on Friday. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $64.71 and a 200 day moving average price of $64.63. The company has a market cap of $12.71 billion, a P/E ratio of 31.48, a PEG ratio of 3.81 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.
Equity Lifestyle Properties (NYSE:ELS – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.22). The business had revenue of $397.81 million for the quarter, compared to analysts’ expectations of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. Sell-side analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current fiscal year.
Equity Lifestyle Properties Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be issued a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.17 annualized dividend and a dividend yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 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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