Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 230,373 shares of the real estate investment trust's stock, valued at approximately $14,848,000. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Equity Lifestyle Properties at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of ELS. Vanguard Group Inc. lifted its position in Equity Lifestyle Properties by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust's stock worth $1,544,190,000 after buying an additional 592,013 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Equity Lifestyle Properties during the 2nd quarter worth about $1,576,449,000. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 valued at $966,648,000 after acquiring an additional 11,999,874 shares in the last quarter. Cohen & Steers Inc. grew its holdings in shares of Equity Lifestyle Properties by 26.8% in the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust's stock valued at $643,331,000 after acquiring an additional 2,246,622 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Equity Lifestyle Properties by 1.0% in the first quarter. Principal Financial Group Inc. now owns 6,435,365 shares of the real estate investment trust's stock valued at $401,698,000 after acquiring an additional 66,772 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
ELS has been the topic of a number of analyst reports. Jefferies Financial Group upgraded Equity Lifestyle Properties to a "strong-buy" rating in a research note on Wednesday, July 22nd. Morgan Stanley reissued a "mixed" rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of Equity Lifestyle Properties from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, August 14th. Truist Financial set a $67.00 target price on shares of Equity Lifestyle Properties and gave the stock a "hold" rating in a report on Tuesday, May 5th. Finally, Odeon Capital Group set a $65.00 price target on shares of Equity Lifestyle Properties in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Equity Lifestyle Properties currently has a consensus rating of "Moderate Buy" and an average price target of $68.52.
Check Out Our Latest Report on ELS
Equity Lifestyle Properties Price Performance
Equity Lifestyle Properties stock opened at $65.41 on Wednesday. The company has a market capitalization of $12.69 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 3.83 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 12 month low of $58.72 and a 12 month high of $69.00. The stock's 50 day moving average is $64.77 and its 200-day moving average is $64.65.
Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share 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 firm had revenue of $397.81 million for the quarter, compared to analyst estimates of $383.66 million. During the same period in the prior year, the business posted $0.69 EPS. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts expect that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.
Equity Lifestyle Properties Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a dividend of $0.5425 per share. The ex-dividend date is Friday, September 25th. This represents a $2.17 annualized dividend and a dividend yield of 3.3%. Equity Lifestyle Properties's dividend payout ratio (DPR) is currently 104.33%.
Equity Lifestyle Properties Profile
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Equity Lifestyle Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Equity Lifestyle Properties wasn't on the list.
While Equity Lifestyle Properties currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2026. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
