Boston Advisors LLC acquired a new stake in shares of Equity Lifestyle Properties Inc. (NYSE:ELS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,170 shares of the company’s stock, valued at approximately $1,214,000.
Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Equity Lifestyle Properties during the fourth quarter valued at $43,997,000. NN Investment Partners Holdings N.V. acquired a new position in Equity Lifestyle Properties during the first quarter valued at about $33,005,000. Goldman Sachs Group Inc. boosted its position in Equity Lifestyle Properties by 25.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,556,487 shares of the company’s stock valued at $113,204,000 after buying an additional 311,786 shares during the period. Bank of Montreal Can acquired a new position in Equity Lifestyle Properties during the second quarter valued at about $12,984,000. Finally, Renaissance Technologies LLC boosted its position in Equity Lifestyle Properties by 18.7% in the first quarter. Renaissance Technologies LLC now owns 1,026,300 shares of the company’s stock valued at $74,643,000 after buying an additional 161,600 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.
Shares of Equity Lifestyle Properties Inc. (NYSE:ELS) traded down 1.73% during midday trading on Friday, reaching $77.18. The company had a trading volume of 641,454 shares. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 41.65 and a beta of 0.48. The firm’s 50 day moving average price is $78.23 and its 200-day moving average price is $75.62. Equity Lifestyle Properties Inc. has a 1-year low of $57.71 and a 1-year high of $83.19.
Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, July 18th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. The business earned $210.10 million during the quarter, compared to analysts’ expectations of $114.76 million. Equity Lifestyle Properties had a return on equity of 20.11% and a net margin of 21.01%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. Equities research analysts expect that Equity Lifestyle Properties Inc. will post $3.30 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Wednesday, September 28th. Equity Lifestyle Properties’s payout ratio is 91.40%.
Several equities analysts have recently issued reports on ELS shares. Cantor Fitzgerald reissued a “hold” rating on shares of Equity Lifestyle Properties in a research note on Saturday, June 4th. Citigroup Inc. boosted their target price on Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Finally, BMO Capital Markets reissued a “hold” rating and set a $77.00 target price on shares of Equity Lifestyle Properties in a research note on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of C$71.25.
About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust. The Company is an integrated owner and operator of lifestyle-oriented properties (Properties) consisting primarily of manufactured home (MH) communities, and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations, and Home Sales and Rentals Operations.
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