Principal Financial Group Inc. increased its stake in Equity Lifestyle Properties Inc. (NYSE:ELS) by 7.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,126 shares of the company’s stock after buying an additional 14,967 shares during the period. Principal Financial Group Inc. owned about 0.26% of Equity Lifestyle Properties worth $18,021,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC raised 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 last quarter. Bank of Montreal Can bought a new position in Equity Lifestyle Properties during the second quarter valued at about $12,984,000. LPL Financial LLC raised its position in Equity Lifestyle Properties by 17.7% in the first quarter. LPL Financial LLC now owns 18,552 shares of the company’s stock valued at $1,329,000 after buying an additional 2,795 shares during the last quarter. State Street Corp raised its position in Equity Lifestyle Properties by 3.0% in the first quarter. State Street Corp now owns 2,457,328 shares of the company’s stock valued at $178,722,000 after buying an additional 72,727 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Equity Lifestyle Properties by 3.3% in the first quarter. Geode Capital Management LLC now owns 689,621 shares of the company’s stock valued at $50,156,000 after buying an additional 22,198 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.
Equity Lifestyle Properties Inc. (NYSE:ELS) traded down 0.40% during midday trading on Tuesday, reaching $75.25. The company’s stock had a trading volume of 52,520 shares. Equity Lifestyle Properties Inc. has a 52-week low of $57.71 and a 52-week high of $83.19. The firm has a 50 day moving average of $78.10 and a 200 day moving average of $75.68. The firm has a market cap of $6.42 billion, a P/E ratio of 40.61 and a beta of 0.40.
Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. The business had revenue of $210.10 million for the quarter, compared to analyst estimates of $114.76 million. Equity Lifestyle Properties had a return on equity of 20.11% and a net margin of 21.01%. Equity Lifestyle Properties’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.70 earnings per share. Analysts anticipate that Equity Lifestyle Properties Inc. will post $3.30 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 2.25%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 91.40%.
Several equities analysts have recently issued reports on ELS shares. Citigroup Inc. boosted their target price on Equity Lifestyle Properties from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. BMO Capital Markets reiterated a “hold” rating and set a $77.00 price objective on shares of Equity Lifestyle Properties in a report on Thursday, July 28th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of C$71.25.
Equity Lifestyle Properties Company Profile
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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