Van Hulzen Asset Management LLC Purchases New Stake in Equity Lifestyle Properties, Inc. $ELS

Van Hulzen Asset Management LLC acquired a new position in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,000 shares of the real estate investment trust’s stock, valued at approximately $709,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its holdings in Equity Lifestyle Properties by 1,104.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 673,072 shares of the real estate investment trust’s stock valued at $40,794,000 after buying an additional 617,202 shares during the period. Legal & General Group Plc grew its holdings in Equity Lifestyle Properties by 13.4% during the 4th quarter. Legal & General Group Plc now owns 1,365,902 shares of the real estate investment trust’s stock worth $82,787,000 after acquiring an additional 161,210 shares during the period. BROOKFIELD Corp ON acquired a new stake in Equity Lifestyle Properties during the 1st quarter worth $19,429,000. Resolution Capital Ltd raised its position in shares of Equity Lifestyle Properties by 3.3% during the 1st quarter. Resolution Capital Ltd now owns 1,885,292 shares of the real estate investment trust’s stock valued at $117,680,000 after acquiring an additional 59,809 shares during the last quarter. Finally, Corient Private Wealth LP bought a new stake in shares of Equity Lifestyle Properties during the 2nd quarter valued at $2,549,000. 97.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ELS. Weiss Ratings downgraded Equity Lifestyle Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Odeon Capital Group set a $65.00 price objective on Equity Lifestyle Properties in a report on Thursday, July 9th. Wells Fargo & Company cut their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Jefferies Financial Group upgraded Equity Lifestyle Properties to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Barclays set a $69.00 target price on Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.52.

Equity Lifestyle Properties Price Performance

Shares of ELS opened at $60.34 on Friday. The stock has a 50 day simple moving average of $64.56 and a 200 day simple moving average of $64.30. Equity Lifestyle Properties, Inc. has a 52-week low of $58.72 and a 52-week high of $69.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.02 and a current ratio of 0.02. The firm has a market capitalization of $11.71 billion, a PE ratio of 29.01, a P/E/G ratio of 3.56 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 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.22). The company had revenue of $397.81 million for the quarter, compared to analyst estimates of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. Sell-side analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 25th. Equity Lifestyle Properties’s payout ratio is currently 104.33%.

Equity Lifestyle Properties Profile

Equity LifeStyle Properties, Inc (NYSE:ELS) is a real estate investment trust that owns, operates and manages residential communities and resort properties across the United States. Its portfolio primarily consists of manufactured home communities, recreational vehicle (RV) resorts and campgrounds.

The company provides long-term homesites for manufactured housing residents, as well as seasonal and transient accommodations for RV owners and vacationers. Its properties generally offer amenities and services such as clubhouses, swimming pools, recreational facilities, community events and utility connections.