Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,015 shares of the real estate investment trust’s stock after purchasing an additional 547 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Equity Lifestyle Properties were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in ELS. BlackRock Inc. boosted its position in Equity Lifestyle Properties by 4,674.0% during the 1st quarter. BlackRock Inc. now owns 6,050,846 shares of the real estate investment trust’s stock worth $466,277,000 after purchasing an additional 5,924,100 shares during the period. JPMorgan Chase & Co. boosted its position in Equity Lifestyle Properties by 91.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,627,214 shares of the real estate investment trust’s stock worth $125,393,000 after purchasing an additional 775,969 shares during the period. Russell Investments Group Ltd. boosted its position in Equity Lifestyle Properties by 132.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 563,498 shares of the real estate investment trust’s stock worth $48,615,000 after purchasing an additional 320,685 shares during the period. Vanguard Group Inc. boosted its position in Equity Lifestyle Properties by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,493,430 shares of the real estate investment trust’s stock worth $962,743,000 after purchasing an additional 312,465 shares during the period. Finally, Waratah Capital Advisors Ltd. purchased a new stake in Equity Lifestyle Properties during the 1st quarter worth $11,582,000. 95.67% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Robert W. Baird cut shares of Equity Lifestyle Properties from an “outperform” rating to a “neutral” rating and set a $92.00 price target for the company. in a research report on Friday, September 8th. Zacks Investment Research raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research report on Tuesday, September 5th. BidaskClub raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $81.00 price target (up from $75.00) on shares of Equity Lifestyle Properties in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $87.75.
Equity Lifestyle Properties, Inc. (NYSE:ELS) opened at 86.69 on Wednesday. The stock has a market capitalization of $7.54 billion, a PE ratio of 43.02 and a beta of 0.32. Equity Lifestyle Properties, Inc. has a 52-week low of $65.87 and a 52-week high of $90.80. The firm has a 50-day moving average of $87.82 and a 200-day moving average of $83.61.
Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $221.30 million for the quarter, compared to the consensus estimate of $209.80 million. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. Equity Lifestyle Properties’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. On average, equities analysts expect that Equity Lifestyle Properties, Inc. will post $2.14 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a $0.4875 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.95 dividend on an annualized basis and a yield of 2.25%. Equity Lifestyle Properties’s payout ratio is presently 97.02%.
In other news, Chairman Samuel Zell bought 805,333 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were acquired at an average cost of $87.43 per share, for a total transaction of $70,410,264.19. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.10% of the company’s stock.
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Equity Lifestyle Properties Company 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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