Fairtree Asset Management Pty Ltd Purchases New Holdings in Equity Lifestyle Properties, Inc. $ELS

Fairtree Asset Management Pty Ltd acquired a new position in Equity Lifestyle Properties, Inc. (NYSE:ELS) during the second quarter, HoldingsChannel reports. The institutional investor acquired 7,741 shares of the real estate investment trust’s stock, valued at approximately $499,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Empowered Funds LLC grew its stake in shares of Equity Lifestyle Properties by 14.1% in the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock worth $435,000 after buying an additional 804 shares during the last quarter. Jane Street Group LLC boosted its holdings in Equity Lifestyle Properties by 598.5% in the first quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock worth $7,964,000 after acquiring an additional 102,303 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Equity Lifestyle Properties by 62.3% in the first quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust’s stock worth $1,542,000 after acquiring an additional 8,873 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Equity Lifestyle Properties by 111.0% during the second quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust’s stock valued at $624,000 after acquiring an additional 5,325 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new position in shares of Equity Lifestyle Properties during the second quarter valued at $300,000. Institutional investors own 97.21% of the company’s stock.

Analysts Set New Price Targets

ELS has been the subject of a number of analyst reports. Odeon Capital Group set a $65.00 price objective on shares of Equity Lifestyle Properties in a research note on Thursday, July 9th. Wells Fargo & Company cut their price target on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Morgan Stanley reissued a “mixed” rating and set a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. Barclays set a $69.00 price objective on shares of Equity Lifestyle Properties and gave the stock an “equal weight” rating in a report on Monday. Finally, Jefferies Financial Group raised Equity Lifestyle Properties to a “strong-buy” rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.52.

Equity Lifestyle Properties Price Performance

ELS opened at $65.49 on Friday. The company’s 50-day simple moving average is $64.70 and its two-hundred day simple moving average is $64.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.02 and a current ratio of 0.02. The stock has a market capitalization of $12.71 billion, a P/E ratio of 31.49, a P/E/G ratio of 3.83 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a 52-week low of $58.72 and a 52-week 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 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.22). Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The company had revenue of $397.81 million during the quarter, compared to the consensus estimate of $383.66 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors 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 annualized dividend and a yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio (DPR) 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.