Old Mutual Global Investors UK Ltd. purchased a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,018 shares of the real estate investment trust’s stock, valued at approximately $346,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Los Angeles Capital Management & Equity Research Inc. boosted its position in Equity Lifestyle Properties by 46.1% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 174,675 shares of the real estate investment trust’s stock worth $15,081,000 after acquiring an additional 55,147 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Equity Lifestyle Properties by 14.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 38,736 shares of the real estate investment trust’s stock worth $3,345,000 after acquiring an additional 4,798 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Equity Lifestyle Properties by 1.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,643,508 shares of the real estate investment trust’s stock worth $141,901,000 after acquiring an additional 16,294 shares during the last quarter. Swiss National Bank boosted its position in Equity Lifestyle Properties by 2.5% during the 2nd quarter. Swiss National Bank now owns 137,300 shares of the real estate investment trust’s stock worth $11,854,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new position in Equity Lifestyle Properties during the 2nd quarter worth approximately $155,000. 95.67% of the stock is owned by hedge funds and other institutional investors.
Shares of Equity Lifestyle Properties, Inc. (ELS) opened at 88.93 on Tuesday. The stock has a 50 day moving average price of $87.79 and a 200 day moving average price of $83.57. The firm has a market cap of $7.74 billion, a P/E ratio of 44.13 and a beta of 0.32. Equity Lifestyle Properties, Inc. has a 12-month low of $65.87 and a 12-month high of $90.80.
Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. Equity Lifestyle Properties had a return on equity of 20.64% and a net margin of 22.00%. The business had revenue of $221.30 million during the quarter, compared to the consensus estimate of $209.80 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. Equity Lifestyle Properties’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Equity Lifestyle Properties, Inc. will post $2.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.4875 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.95 annualized dividend and a yield of 2.19%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 97.02%.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Tuesday, June 13th. Cantor Fitzgerald reissued a “neutral” rating and issued a $81.00 price objective (up previously from $75.00) on shares of Equity Lifestyle Properties in a report on Saturday, July 22nd. Finally, BidaskClub raised Equity Lifestyle Properties from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $87.75.
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In related news, Chairman Samuel Zell purchased 805,333 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average price of $87.43 per share, for a total transaction of $70,410,264.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.10% of the company’s stock.
Equity Lifestyle Properties Profile
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an 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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