NewEdge Advisors LLC Has $3.68 Million Stock Position in Equity Lifestyle Properties, Inc. $ELS

NewEdge Advisors LLC increased its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 655,333.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,989 shares of the real estate investment trust’s stock after buying an additional 58,980 shares during the period. NewEdge Advisors LLC’s holdings in Equity Lifestyle Properties were worth $3,682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Equity Lifestyle Properties by 303.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock worth $966,648,000 after acquiring an additional 11,999,874 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Equity Lifestyle Properties by 253.7% during the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock valued at $191,025,000 after acquiring an additional 2,257,299 shares during the period. Cohen & Steers Inc. grew its position in shares of Equity Lifestyle Properties by 26.8% in the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock valued at $643,331,000 after purchasing an additional 2,246,622 shares during the last quarter. Norges Bank acquired a new stake in shares of Equity Lifestyle Properties in the fourth quarter valued at about $125,352,000. Finally, Royal London Asset Management Ltd. increased its stake in shares of Equity Lifestyle Properties by 1,520.4% in the second quarter. Royal London Asset Management Ltd. now owns 1,771,803 shares of the real estate investment trust’s stock worth $109,267,000 after purchasing an additional 1,662,458 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS opened at $63.86 on Thursday. The firm has a market capitalization of $12.39 billion, a PE ratio of 30.70, a PEG ratio of 3.73 and a beta of 0.64. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. Equity Lifestyle Properties, Inc. has a 1-year low of $58.72 and a 1-year high of $69.00. The business’s 50 day moving average is $64.42 and its 200-day moving average is $64.52.

Equity Lifestyle Properties (NYSE:ELS) last issued its 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). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm had revenue of $397.81 million during the quarter, compared to analyst estimates of $383.66 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Equity Lifestyle Properties, Inc. will post 3.19 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders 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 payout ratio is 104.33%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Robert W. Baird boosted their price objective on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group raised Equity Lifestyle Properties to a “strong-buy” rating in a report on Wednesday, July 22nd. Morgan Stanley reaffirmed a “mixed” rating and issued a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday. Truist Financial set a $67.00 price target on Equity Lifestyle Properties and gave the stock a “hold” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings downgraded shares of Equity Lifestyle Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. One investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.45.

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.