Equity Lifestyle Properties, Inc. $ELS Position Raised by Resolution Capital Ltd

Resolution Capital Ltd grew its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 3.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,885,292 shares of the real estate investment trust’s stock after purchasing an additional 59,809 shares during the quarter. Equity Lifestyle Properties accounts for about 2.5% of Resolution Capital Ltd’s holdings, making the stock its 13th biggest holding. Resolution Capital Ltd’s holdings in Equity Lifestyle Properties were worth $117,680,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ELS. Quantinno Capital Management LP increased its holdings in shares of Equity Lifestyle Properties by 3.5% in the 1st quarter. Quantinno Capital Management LP now owns 1,100,566 shares of the real estate investment trust’s stock worth $68,697,000 after acquiring an additional 36,790 shares during the period. BROOKFIELD Corp ON acquired a new position in Equity Lifestyle Properties during the 1st quarter valued at about $19,429,000. Delta Global Management LP acquired a new position in Equity Lifestyle Properties during the 1st quarter valued at about $2,233,000. OMERS ADMINISTRATION Corp boosted its stake in Equity Lifestyle Properties by 4.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 6,658 shares of the real estate investment trust’s stock valued at $416,000 after purchasing an additional 280 shares during the period. Finally, Lombard Odier Asset Management USA Corp bought a new position in Equity Lifestyle Properties in the 1st quarter worth about $251,000. Institutional investors own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ELS shares. Truist Financial set a $67.00 price target on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Barclays reissued an “equal weight” rating and issued a $68.00 price objective on shares of Equity Lifestyle Properties in a report on Tuesday, July 14th. Weiss Ratings upgraded Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company cut their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $68.70.

Equity Lifestyle Properties Stock Performance

Shares of ELS opened at $66.05 on Wednesday. The firm has a market capitalization of $12.81 billion, a PE ratio of 31.75, a P/E/G ratio of 3.96 and a beta of 0.66. The company has a quick ratio of 0.04, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $63.82 and a 200 day moving average price of $64.30. Equity Lifestyle Properties, Inc. has a 52-week low of $58.15 and a 52-week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.22). The company had revenue of $397.81 million for the quarter, compared to the consensus estimate of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. On average, sell-side analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be paid 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 is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 104.33%.

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.