Capital Square LLC Makes New Investment in Equity Lifestyle Properties, Inc. $ELS

Capital Square LLC purchased a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 12,662 shares of the real estate investment trust’s stock, valued at approximately $804,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Equity Lifestyle Properties in the 2nd quarter worth $1,576,449,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Equity Lifestyle Properties by 303.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock valued at $966,648,000 after purchasing an additional 11,999,874 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Equity Lifestyle Properties by 253.7% during the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock valued at $191,025,000 after purchasing an additional 2,257,299 shares during the last quarter. Cohen & Steers Inc. boosted its position in shares of Equity Lifestyle Properties by 26.8% in the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock valued at $643,331,000 after purchasing an additional 2,246,622 shares during the period. Finally, Norges Bank acquired a new position in shares of Equity Lifestyle Properties in the 4th quarter valued at $125,352,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity Lifestyle Properties Stock Performance

Shares of ELS stock opened at $65.48 on Monday. Equity Lifestyle Properties, Inc. has a 1-year low of $58.72 and a 1-year high of $69.00. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 3.81 and a beta of 0.64. The stock’s fifty day simple moving average is $64.71 and its 200-day simple moving average is $64.64.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.22). The business had revenue of $397.81 million during the quarter, compared to analysts’ expectations of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. On average, sell-side analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be issued a $0.5425 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio is currently 104.33%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the stock a “hold” rating in a report on Tuesday, May 5th. Wells Fargo & Company decreased their target price on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research report on Wednesday, July 22nd. Morgan Stanley reissued a “mixed” rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. Finally, Barclays set a $69.00 price target on shares of Equity Lifestyle Properties and gave the company an “equal weight” rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Equity Lifestyle Properties has an average rating of “Moderate Buy” and a consensus price target of $68.52.

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.