Johnson Investment Counsel Inc. raised its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 18.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,560 shares of the real estate investment trust’s stock after buying an additional 3,700 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Equity LifeStyle Properties were worth $1,759,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of ELS. Victory Capital Management Inc. grew its holdings in shares of Equity LifeStyle Properties by 9,587.4% during the second quarter. Victory Capital Management Inc. now owns 3,550,614 shares of the real estate investment trust’s stock worth $263,846,000 after purchasing an additional 3,513,962 shares in the last quarter. FMR LLC lifted its position in Equity LifeStyle Properties by 18.3% in the 2nd quarter. FMR LLC now owns 14,413,129 shares of the real estate investment trust’s stock worth $1,071,039,000 after buying an additional 2,226,950 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Equity LifeStyle Properties by 46.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,128,158 shares of the real estate investment trust’s stock worth $262,716,000 after buying an additional 1,309,483 shares during the last quarter. Lasalle Investment Management Securities LLC lifted its position in Equity LifeStyle Properties by 32.8% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,813,559 shares of the real estate investment trust’s stock worth $179,055,000 after buying an additional 694,979 shares during the last quarter. Finally, Northwood Liquid Management LP bought a new stake in Equity LifeStyle Properties in the 1st quarter worth approximately $22,239,000. 91.32% of the stock is owned by institutional investors.
Several analysts have weighed in on ELS shares. Barclays started coverage on Equity LifeStyle Properties in a research report on Wednesday, September 1st. They issued an “overweight” rating and a $92.00 price objective for the company. Colliers Securities reiterated a “buy” rating on shares of Equity LifeStyle Properties in a research report on Thursday, September 2nd. Royal Bank of Canada upped their target price on Equity LifeStyle Properties from $75.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, July 21st. Robert W. Baird upped their target price on Equity LifeStyle Properties from $74.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, July 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Equity LifeStyle Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 5th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $81.50.
Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Sunday, July 18th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. Equity LifeStyle Properties had a return on equity of 18.54% and a net margin of 20.64%. The firm had revenue of $317.42 million during the quarter, compared to analyst estimates of $262.68 million. During the same period last year, the company earned $0.47 EPS. Equity LifeStyle Properties’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 8th. Shareholders of record on Friday, September 24th were given a dividend of $0.363 per share. This represents a $1.45 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, September 23rd. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 66.82%.
Equity LifeStyle Properties Company Profile
Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations; and Home Sales and Rentals Operations.
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