Virginia Retirement Systems ET AL Increases Position in Equity Lifestyle Properties, Inc. (ELS)

Virginia Retirement Systems ET AL boosted its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 66.6% in the third quarter, Holdings Channel reports. The fund owned 170,100 shares of the real estate investment trust’s stock after buying an additional 68,000 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Equity Lifestyle Properties were worth $16,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in ELS. First Hawaiian Bank purchased a new stake in shares of Equity Lifestyle Properties in the third quarter valued at about $113,000. Qube Research & Technologies Ltd purchased a new stake in shares of Equity Lifestyle Properties in the second quarter valued at about $156,000. American Investment Services Inc. purchased a new stake in shares of Equity Lifestyle Properties in the third quarter valued at about $203,000. Lourd Capital LLC purchased a new stake in shares of Equity Lifestyle Properties in the third quarter valued at about $208,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Equity Lifestyle Properties in the second quarter valued at about $204,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

ELS has been the subject of a number of research reports. Bank of America upped their target price on shares of Equity Lifestyle Properties from $99.00 to $100.50 and gave the company a “buy” rating in a report on Monday, September 17th. ValuEngine raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Citigroup set a $98.00 target price on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a report on Thursday, October 25th. BMO Capital Markets upped their target price on shares of Equity Lifestyle Properties from $96.00 to $99.00 and gave the company a “market perform” rating in a report on Tuesday, October 23rd. Finally, Robert W. Baird upped their target price on shares of Equity Lifestyle Properties from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $96.93.

Shares of NYSE:ELS traded up $0.42 on Wednesday, reaching $95.56. The company’s stock had a trading volume of 600 shares, compared to its average volume of 363,142. Equity Lifestyle Properties, Inc. has a 52-week low of $79.78 and a 52-week high of $98.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 4.18 and a beta of 0.15.

Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, October 22nd. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. The firm had revenue of $256.70 million during the quarter, compared to analysts’ expectations of $240.19 million. Equity Lifestyle Properties had a net margin of 22.40% and a return on equity of 19.69%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. As a group, research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.91 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Friday, December 28th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, December 27th. This represents a $2.20 annualized dividend and a yield of 2.30%. Equity Lifestyle Properties’s dividend payout ratio is currently 61.11%.

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About Equity Lifestyle Properties

We are a self-administered, self-managed real estate investment trust (“REIT”) with headquarters in Chicago. As of July 23, 2018, we own or have an interest in 410 quality properties in 32 states and British Columbia consisting of 153,549 sites.

Read More: Leveraged Buyout (LBO)

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).

Institutional Ownership by Quarter for Equity Lifestyle Properties (NYSE:ELS)

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