Legal & General Group Plc Purchases New Position in Equity Lifestyle Properties, Inc. $ELS

Legal & General Group Plc purchased a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,085,156 shares of the real estate investment trust’s stock, valued at approximately $69,938,000. Legal & General Group Plc owned 0.56% of Equity Lifestyle Properties at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ELS. Wiser Advisor Group LLC acquired a new stake in shares of Equity Lifestyle Properties during the 3rd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Equity Lifestyle Properties by 943.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 453 shares during the period. Clearstead Trust LLC purchased a new stake in Equity Lifestyle Properties during the second quarter worth $33,000. Fulcrum Asset Management LLP purchased a new stake in Equity Lifestyle Properties during the third quarter worth $34,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Equity Lifestyle Properties during the second quarter valued at $37,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Equity Lifestyle Properties Price Performance

Shares of NYSE ELS opened at $63.89 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.02 and a current ratio of 0.02. The firm has a fifty day moving average of $64.83 and a 200 day moving average of $64.62. The firm has a market cap of $12.40 billion, a PE ratio of 30.72, a PEG ratio of 3.77 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a one year low of $58.72 and a one year high of $69.00.

Equity Lifestyle Properties (NYSE:ELS) last posted 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). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The company had revenue of $397.81 million for the quarter, compared to analysts’ expectations of $383.66 million. During the same period in the previous year, the business earned $0.69 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio is 104.33%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ELS shares. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a report on Wednesday, July 22nd. Truist Financial set a $67.00 target price on Equity Lifestyle Properties and gave the company a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 14th. Wells Fargo & Company reduced their price target on 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. Finally, Morgan Stanley reiterated a “mixed” rating and set a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Equity Lifestyle Properties has an average rating of “Moderate Buy” and a consensus target price 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.