Fairtree Asset Management Pty Ltd Buys New Shares in Equity Lifestyle Properties, Inc. $ELS

Fairtree Asset Management Pty Ltd purchased a new position in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,741 shares of the real estate investment trust’s stock, valued at approximately $499,000.

Other institutional investors have also added to or reduced their stakes in the company. Wiser Advisor Group LLC bought a new position in shares of Equity Lifestyle Properties during the third quarter valued at about $25,000. Caitong International Asset Management Co. Ltd increased its stake in Equity Lifestyle Properties by 943.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 453 shares during the period. Clearstead Trust LLC boosted its stake in shares of Equity Lifestyle Properties by 74.8% during the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 231 shares during the period. Fulcrum Asset Management LLP purchased a new stake in shares of Equity Lifestyle Properties during the third quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Equity Lifestyle Properties by 67.3% in the first quarter. EverSource Wealth Advisors LLC now owns 726 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 292 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ELS shares. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company decreased their price objective on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Morgan Stanley reaffirmed a “mixed” rating and set a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Truist Financial set a $67.00 target price on Equity Lifestyle Properties and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.52.

Equity Lifestyle Properties Stock Down 0.4%

Shares of NYSE ELS opened at $65.49 on Friday. The firm has a fifty day simple moving average of $64.70 and a two-hundred day simple moving average of $64.62. Equity Lifestyle Properties, Inc. has a 12 month low of $58.72 and a 12 month high of $69.00. 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 market capitalization of $12.71 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 3.83 and a beta of 0.64.

Equity Lifestyle Properties (NYSE:ELS) last announced its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $397.81 million for the quarter, compared to the consensus estimate of $383.66 million. During the same period in the previous year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts expect that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The company 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 $0.5425 dividend. 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 is currently 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.