JPMorgan Chase & Co. Grows Position in Equity Lifestyle Properties, Inc. (ELS)
JPMorgan Chase & Co. increased its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 1.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,643,508 shares of the real estate investment trust’s stock after buying an additional 16,294 shares during the quarter. JPMorgan Chase & Co. owned about 1.89% of Equity Lifestyle Properties worth $141,901,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Swiss National Bank grew its stake in Equity Lifestyle Properties by 2.5% during the 2nd quarter. Swiss National Bank now owns 137,300 shares of the real estate investment trust’s stock worth $11,854,000 after buying an additional 3,400 shares during the last quarter. Pacad Investment Ltd. purchased a new position in Equity Lifestyle Properties during the 2nd quarter worth approximately $155,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Equity Lifestyle Properties by 10.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,015 shares of the real estate investment trust’s stock worth $519,000 after buying an additional 547 shares during the last quarter. Pacer Advisors Inc. grew its stake in Equity Lifestyle Properties by 14.4% during the 2nd quarter. Pacer Advisors Inc. now owns 16,125 shares of the real estate investment trust’s stock worth $1,392,000 after buying an additional 2,026 shares during the last quarter. Finally, Utah Retirement Systems grew its stake in Equity Lifestyle Properties by 5.9% during the 2nd quarter. Utah Retirement Systems now owns 17,538 shares of the real estate investment trust’s stock worth $1,513,000 after buying an additional 980 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.
A number of research analysts recently issued reports on ELS shares. BidaskClub upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Equity Lifestyle Properties presently has a consensus rating of “Hold” and an average price target of $84.25.
COPYRIGHT VIOLATION NOTICE: “JPMorgan Chase & Co. Grows Position in Equity Lifestyle Properties, Inc. (ELS)” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/07/jpmorgan-chase-co-grows-position-in-equity-lifestyle-properties-inc-els.html.
Equity Lifestyle Properties, Inc. (NYSE ELS) opened at 90.32 on Thursday. Equity Lifestyle Properties, Inc. has a 52 week low of $65.87 and a 52 week high of $90.80. The firm has a 50 day moving average price of $87.73 and a 200 day moving average price of $83.38. The stock has a market capitalization of $7.86 billion, a P/E ratio of 44.82 and a beta of 0.32.
Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results on Monday, July 17th. The real estate investment trust reported $0.81 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $221.30 million during the quarter, compared to analyst estimates of $209.80 million. Equity Lifestyle Properties had a return on equity of 20.64% and a net margin of 22.00%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 earnings per share. Equities research analysts predict that Equity Lifestyle Properties, Inc. will post $2.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.4875 per share. This represents a $1.95 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, September 28th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 97.02%.
In related news, Chairman Samuel Zell bought 805,333 shares of the stock in a transaction dated Friday, July 21st. The stock was bought at an average cost of $87.43 per share, with a total value of $70,410,264.19. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is currently owned by corporate insiders.
About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (properties) consisting primarily of manufactured home (MH) communities and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations and Home Sales and Rentals Operations.
Want to see what other hedge funds are holding ELS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Lifestyle Properties, Inc. (NYSE:ELS).
Receive News & Stock Ratings for Equity Lifestyle Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Lifestyle Properties Inc. and related stocks with our FREE daily email newsletter.