Oppenheimer Asset Management Inc. Buys Shares of 13,163 Equity Lifestyle Properties, Inc. $ELS

Oppenheimer Asset Management Inc. bought a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,163 shares of the real estate investment trust’s stock, valued at approximately $848,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ELS. Wiser Advisor Group LLC purchased a new position in Equity Lifestyle Properties during the 3rd quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Equity Lifestyle Properties by 943.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 453 shares during the last quarter. Clearstead Trust LLC boosted its stake in shares of Equity Lifestyle Properties by 74.8% during the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 231 shares during the period. Fulcrum Asset Management LLP purchased a new stake in shares of Equity Lifestyle Properties during the third quarter valued at $34,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Equity Lifestyle Properties by 67.3% in the first quarter. EverSource Wealth Advisors LLC now owns 726 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 292 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELS has been the topic of a number of research analyst reports. Barclays set a $69.00 target price on shares of Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research note on Monday. Morgan Stanley reiterated a “mixed” rating and issued a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Odeon Capital Group set a $65.00 price objective on Equity Lifestyle Properties in a research note on Thursday, July 9th. 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. Finally, Wells Fargo & Company decreased their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.52.

Equity Lifestyle Properties Stock Down 1.1%

Equity Lifestyle Properties stock opened at $64.91 on Tuesday. The business has a fifty day moving average of $64.62 and a two-hundred day moving average of $64.57. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. The firm has a market cap of $12.60 billion, a P/E ratio of 31.21, a P/E/G ratio of 3.82 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a twelve month low of $58.72 and a twelve month high of $69.00.

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

Equity Lifestyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders 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 yield of 3.3%. Equity Lifestyle Properties’s payout ratio is currently 104.33%.

Equity Lifestyle Properties 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.