CI Investments Inc. Acquires 215,219 Shares of Equity Lifestyle Properties, Inc. $ELS

CI Investments Inc. raised its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 26.7% in the first quarter, Holdings Channel reports. The institutional investor owned 1,019,804 shares of the real estate investment trust’s stock after buying an additional 215,219 shares during the quarter. CI Investments Inc.’s holdings in Equity Lifestyle Properties were worth $63,656,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC grew its stake in shares of Equity Lifestyle Properties by 3.5% in the fourth quarter. Empowered Funds LLC now owns 5,055 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 169 shares during the last quarter. Bessemer Group Inc. raised its stake in Equity Lifestyle Properties by 30.3% during the 1st quarter. Bessemer Group Inc. now owns 735 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 171 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in Equity Lifestyle Properties by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 43,367 shares of the real estate investment trust’s stock valued at $2,628,000 after purchasing an additional 172 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Equity Lifestyle Properties by 3.7% in the 3rd quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 178 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Equity Lifestyle Properties by 3.5% in the 1st quarter. Fifth Third Bancorp now owns 5,561 shares of the real estate investment trust’s stock valued at $347,000 after purchasing an additional 189 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ELS. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, April 15th. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings upgraded shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Wall Street Zen raised Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Mizuho started coverage on Equity Lifestyle Properties in a research note on Tuesday, March 31st. They set an “outperform” rating and a $72.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $68.70.

Equity Lifestyle Properties Stock Down 0.6%

Shares of ELS stock opened at $64.88 on Wednesday. The stock has a market cap of $12.58 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 3.97 and a beta of 0.66. Equity Lifestyle Properties, Inc. has a one year low of $58.15 and a one year high of $69.00. The stock has a fifty day moving average price of $63.46 and a 200 day moving average price of $64.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.04 and a quick ratio of 0.04.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.28). The business had revenue of $397.62 million during the quarter, compared to the consensus estimate of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. Analysts predict that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, June 26th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 108.50%.

About Equity Lifestyle Properties

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.