Equity Lifestyle Properties, Inc. $ELS Shares Bought by Strs Ohio

Strs Ohio grew its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 27.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 348,995 shares of the real estate investment trust’s stock after purchasing an additional 74,693 shares during the period. Strs Ohio’s holdings in Equity Lifestyle Properties were worth $21,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELS. Price T Rowe Associates Inc. MD boosted its holdings in Equity Lifestyle Properties by 303.9% during the fourth 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 buying an additional 11,999,874 shares in the last quarter. Daiwa Securities Group Inc. grew its position in 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 buying an additional 2,257,299 shares during the period. Cohen & Steers Inc. increased its holdings in Equity Lifestyle Properties by 26.8% in the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock valued at $643,331,000 after buying an additional 2,246,622 shares in the last quarter. Norges Bank acquired a new position in shares of Equity Lifestyle Properties in the fourth quarter worth about $125,352,000. Finally, Royal London Asset Management Ltd. raised its position in shares of Equity Lifestyle Properties by 1,520.4% in the second quarter. Royal London Asset Management Ltd. now owns 1,771,803 shares of the real estate investment trust’s stock worth $109,267,000 after acquiring an additional 1,662,458 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ELS. Mizuho assumed coverage on Equity Lifestyle Properties in a research report on Tuesday, March 31st. They set an “outperform” rating and a $72.00 target price on the stock. Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the company a “hold” rating in a report on Tuesday, May 5th. Barclays decreased their target price on Equity Lifestyle Properties from $71.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a report on Friday, June 26th. Finally, Wells Fargo & Company reduced their price objective on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.20.

Equity Lifestyle Properties Price Performance

NYSE:ELS opened at $66.17 on Friday. The stock has a 50 day moving average of $63.09 and a two-hundred day moving average of $63.81. Equity Lifestyle Properties, Inc. has a 12 month low of $58.15 and a 12 month high of $69.00. The firm has a market cap of $12.83 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 4.03 and a beta of 0.66. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.29.

Equity Lifestyle Properties (NYSE:ELS) last released its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.28). The firm had revenue of $397.62 million during the quarter, compared to analysts’ expectations of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 EPS. On average, analysts expect that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a $0.5425 dividend. The ex-dividend date 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 Profile

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.