TIAA CREF Investment Management LLC Has $56.12 Million Position in Equity Lifestyle Properties, Inc. (ELS)
TIAA CREF Investment Management LLC boosted its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 649,937 shares of the real estate investment trust’s stock after buying an additional 10,135 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.75% of Equity Lifestyle Properties worth $56,116,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in ELS. BlackRock Inc. grew its position in Equity Lifestyle Properties by 4,674.0% during the first quarter. BlackRock Inc. now owns 6,050,846 shares of the real estate investment trust’s stock valued at $466,277,000 after buying an additional 5,924,100 shares during the period. JPMorgan Chase & Co. grew its position in Equity Lifestyle Properties by 91.2% during the first quarter. JPMorgan Chase & Co. now owns 1,627,214 shares of the real estate investment trust’s stock valued at $125,393,000 after buying an additional 775,969 shares during the period. Russell Investments Group Ltd. grew its position in Equity Lifestyle Properties by 132.1% during the second quarter. Russell Investments Group Ltd. now owns 563,498 shares of the real estate investment trust’s stock valued at $48,615,000 after buying an additional 320,685 shares during the period. Vanguard Group Inc. grew its position in Equity Lifestyle Properties by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,493,430 shares of the real estate investment trust’s stock valued at $962,743,000 after buying an additional 312,465 shares during the period. Finally, Teachers Advisors LLC grew its position in Equity Lifestyle Properties by 19.6% during the second quarter. Teachers Advisors LLC now owns 935,930 shares of the real estate investment trust’s stock valued at $80,808,000 after buying an additional 153,352 shares during the period. Institutional investors own 95.65% of the company’s stock.
In related news, Chairman Samuel Zell purchased 805,333 shares of the stock in a transaction dated Friday, July 21st. The shares were acquired at an average cost of $87.43 per share, with a total value of $70,410,264.19. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.10% of the company’s stock.
Several research firms recently commented on ELS. Zacks Investment Research lowered shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. BidaskClub raised shares of Equity Lifestyle Properties from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $81.00 price objective (up from $75.00) on shares of Equity Lifestyle Properties in a report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $86.75.
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Equity Lifestyle Properties, Inc. (ELS) opened at 88.10 on Tuesday. The firm’s 50-day moving average is $87.90 and its 200 day moving average is $83.90. Equity Lifestyle Properties, Inc. has a 12-month low of $65.87 and a 12-month high of $90.80. The stock has a market capitalization of $7.67 billion, a P/E ratio of 43.72 and a beta of 0.32.
Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.81. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. The business had revenue of $221.30 million for the quarter, compared to analysts’ expectations of $209.80 million. During the same period in the prior year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts expect that Equity Lifestyle Properties, Inc. will post $2.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.4875 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.21%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 97.02%.
Equity Lifestyle Properties Company Profile
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.
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