Geode Capital Management LLC Buys 100,364 Shares of Equity Lifestyle Properties, Inc. $ELS

Geode Capital Management LLC grew its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,712,562 shares of the real estate investment trust’s stock after purchasing an additional 100,364 shares during the period. Geode Capital Management LLC’s holdings in Equity Lifestyle Properties were worth $285,048,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ELS. Allstate Corp boosted its stake in Equity Lifestyle Properties by 143.3% during the fourth quarter. Allstate Corp now owns 44,661 shares of the real estate investment trust’s stock worth $2,707,000 after acquiring an additional 26,307 shares in the last quarter. Clearstead Trust LLC boosted its stake in Equity Lifestyle Properties by 74.8% during the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 231 shares in the last quarter. Clearstead Advisors LLC boosted its stake in Equity Lifestyle Properties by 139.1% during the fourth quarter. Clearstead Advisors LLC now owns 892 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 519 shares in the last quarter. Legal & General Group Plc boosted its stake in Equity Lifestyle Properties by 13.4% during the fourth 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 in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Equity Lifestyle Properties by 93.1% during the fourth quarter. Hantz Financial Services Inc. now owns 12,592 shares of the real estate investment trust’s stock worth $763,000 after acquiring an additional 6,070 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Insider Buying and Selling

In other Equity Lifestyle Properties news, Director David J. Contis sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total transaction of $201,660.00. Following the completion of the sale, the director directly owned 14,890 shares of the company’s stock, valued at approximately $1,000,905.80. This represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ELS shares. Bank of America raised shares of Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Tuesday, February 3rd. Wells Fargo & Company dropped their price objective on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday. Zelman & Associates initiated coverage on shares of Equity Lifestyle Properties in a research note on Monday, March 16th. They issued an “underperform” rating and a $59.25 target price on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $75.00 target price (up from $72.00) on shares of Equity Lifestyle Properties in a research note on Wednesday, February 18th. Finally, Mizuho initiated coverage on shares of Equity Lifestyle Properties in a research note on Tuesday, March 31st. They issued an “outperform” rating and a $72.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.20.

Equity Lifestyle Properties Stock Down 1.5%

ELS opened at $60.83 on Tuesday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average price of $63.24 and a 200-day moving average price of $63.58. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $69.00. The stock has a market capitalization of $11.80 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 3.76 and a beta of 0.69.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.28). Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The company had revenue of $397.62 million for the quarter, compared to analysts’ expectations of $395.71 million. During the same period in the previous year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. Equity Lifestyle Properties’s dividend payout ratio is currently 108.50%.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.