Nuveen LLC Invests $142.94 Million in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Key Points

• Nuveen LLC acquired a total of 2,142,985 shares in Equity Lifestyle Properties, valued at approximately $142 million, representing about 1.12% ownership as of the latest SEC disclosure.
• Recently, various analysts have provided mixed ratings on Equity Lifestyle Properties, with one firm lowering their rating to "sell", while others set price targets ranging from $68.00 to $77.00.
• The company has declared a quarterly dividend of $0.515 payable on October 10th, representing an annualized yield of 3.4%, but has a concerning dividend payout ratio of 106.74%.

Nuveen LLC bought a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,142,985 shares of the real estate investment trust's stock, valued at approximately $142,937,000. Nuveen LLC owned about 1.12% of Equity Lifestyle Properties at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Equity Lifestyle Properties by 0.4% during the first quarter. Vanguard Group Inc. now owns 25,151,151 shares of the real estate investment trust's stock worth $1,677,582,000 after purchasing an additional 97,306 shares during the period. Principal Financial Group Inc. increased its stake in Equity Lifestyle Properties by 4.6% during the first quarter. Principal Financial Group Inc. now owns 6,349,010 shares of the real estate investment trust's stock worth $423,479,000 after purchasing an additional 278,193 shares during the period. Victory Capital Management Inc. increased its stake in Equity Lifestyle Properties by 15.1% during the first quarter. Victory Capital Management Inc. now owns 5,330,066 shares of the real estate investment trust's stock worth $355,515,000 after purchasing an additional 699,877 shares during the period. JPMorgan Chase & Co. increased its stake in Equity Lifestyle Properties by 12.7% during the first quarter. JPMorgan Chase & Co. now owns 4,209,452 shares of the real estate investment trust's stock worth $280,771,000 after purchasing an additional 474,495 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Equity Lifestyle Properties by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,597,191 shares of the real estate investment trust's stock worth $173,233,000 after purchasing an additional 43,861 shares during the period. Institutional investors and hedge funds own 97.21% of the company's stock.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS traded down $0.56 during midday trading on Thursday, hitting $60.37. 950,012 shares of the stock were exchanged, compared to its average volume of 1,537,635. The stock has a market cap of $11.70 billion, a P/E ratio of 31.28, a PEG ratio of 3.21 and a beta of 0.70. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.24. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $76.60. The company has a 50 day moving average price of $61.62 and a 200-day moving average price of $64.18.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.69 EPS for the quarter, hitting analysts' consensus estimates of $0.69. The firm had revenue of $313.29 million during the quarter, compared to analysts' expectations of $377.59 million. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%. The firm's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. On average, research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a $0.515 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.06 annualized dividend and a yield of 3.4%. Equity Lifestyle Properties's payout ratio is 106.74%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ELS shares. Truist Financial set a $68.00 target price on shares of Equity Lifestyle Properties and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada cut their target price on shares of Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Barclays upgraded shares of Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $70.00 to $67.00 in a research note on Tuesday, July 29th. Finally, BMO Capital Markets cut their target price on shares of Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $71.50.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.