35,559 Shares in Equity Lifestyle Properties, Inc. $ELS Purchased by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors purchased 35,559 shares of Equity Lifestyle Properties in the second quarter, valued at approximately $2.29 million. Institutional investors collectively own 97.21% of ELS.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus rating and an average price target of $68.52; recent targets range from $65 to $69.
• ELS reported quarterly revenue of $397.81 million, up 5.5% year over year and above estimates, though earnings per share of $0.50 missed expectations. The company declared a quarterly dividend of $0.5425 per share, representing a 3.3% yield.

Great Lakes Advisors LLC purchased a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 35,559 shares of the real estate investment trust's stock, valued at approximately $2,292,000.

A number of other large investors have also added to or reduced their stakes in the company. Wiser Advisor Group LLC purchased a new position in shares of Equity Lifestyle Properties in the 3rd quarter worth $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Equity Lifestyle Properties by 943.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 453 shares during the last quarter. Clearstead Trust LLC lifted its holdings in shares of Equity Lifestyle Properties by 74.8% in the 4th quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 231 shares during the last quarter. Fulcrum Asset Management LLP purchased a new position in Equity Lifestyle Properties in the third quarter worth about $34,000. Finally, EverSource Wealth Advisors LLC increased its stake in Equity Lifestyle Properties by 67.3% during the first quarter. EverSource Wealth Advisors LLC now owns 726 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 292 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on ELS shares. Barclays set a $69.00 price target on shares of Equity Lifestyle Properties and gave the company an "equal weight" rating in a report on Monday. Jefferies Financial Group upgraded shares of Equity Lifestyle Properties to a "strong-buy" rating in a research note on Wednesday, July 22nd. Truist Financial set a $67.00 price target on shares of Equity Lifestyle Properties and gave the company a "hold" rating in a report on Tuesday, May 5th. Odeon Capital Group set a $65.00 price target on Equity Lifestyle Properties in a research note on Thursday, July 9th. Finally, Weiss Ratings raised Equity Lifestyle Properties from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 14th. One investment 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $68.52.

Equity Lifestyle Properties Price Performance

Equity Lifestyle Properties stock opened at $65.48 on Friday. The company has a fifty day simple moving average of $64.71 and a 200-day simple moving average of $64.63. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 3.81 and a beta of 0.64. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. 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 - Get Free Report) last released its quarterly earnings data 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 company had revenue of $397.81 million for the quarter, compared to analyst estimates of $383.66 million. During the same period last year, the firm posted $0.69 EPS. The business's quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The company also recently declared 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 3.3%. The ex-dividend date of this dividend is Friday, September 25th. Equity Lifestyle Properties's payout ratio is presently 104.33%.

About Equity Lifestyle Properties

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.

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