38,295 Shares in Equity Lifestyle Properties, Inc. $ELS Bought by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC bought a new position in Equity Lifestyle Properties, acquiring 38,295 shares worth about $2.32 million in the fourth quarter.
• Equity Lifestyle Properties reported Q1 earnings of $0.56 per share, missing analyst expectations of $0.84, though revenue of $397.62 million slightly topped estimates.
• The company declared a quarterly dividend of $0.5425 per share, implying an annualized yield of about 3.6%, while analysts currently rate the stock Moderate Buy with a consensus target price of $69.20.

Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 38,295 shares of the real estate investment trust's stock, valued at approximately $2,321,000.

Other hedge funds have also bought and sold shares of the company. Pring Turner Capital Group Inc. raised its stake in shares of Equity Lifestyle Properties by 0.5% in the fourth quarter. Pring Turner Capital Group Inc. now owns 74,255 shares of the real estate investment trust's stock valued at $4,501,000 after buying an additional 359 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Equity Lifestyle Properties by 2.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 349,759 shares of the real estate investment trust's stock valued at $21,199,000 after buying an additional 9,540 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Equity Lifestyle Properties by 21.5% in the fourth quarter. BNP Paribas Financial Markets now owns 156,313 shares of the real estate investment trust's stock valued at $9,474,000 after buying an additional 27,614 shares during the period. Viawealth LLC bought a new stake in shares of Equity Lifestyle Properties in the fourth quarter valued at $208,000. Finally, Norges Bank bought a new stake in shares of Equity Lifestyle Properties in the fourth quarter valued at $125,352,000. 97.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director David J. Contis sold 3,000 shares of the company's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total value of $201,660.00. Following the completion of the transaction, the director directly owned 14,890 shares in the company, valued at approximately $1,000,905.80. This represents a 16.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.80% of the company's stock.

Equity Lifestyle Properties Price Performance

Equity Lifestyle Properties stock opened at $60.83 on Tuesday. The business has a 50-day simple moving average of $63.24 and a 200 day simple moving average of $63.58. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $69.00. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 3.76 and a beta of 0.69.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.28). Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The firm had revenue of $397.62 million during the quarter, compared to analysts' expectations of $395.71 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. Equity Lifestyle Properties's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, June 26th. Equity Lifestyle Properties's dividend payout ratio is presently 108.50%.

Analyst Ratings Changes

ELS has been the topic of several research reports. Mizuho initiated coverage on Equity Lifestyle Properties in a research note on Tuesday, March 31st. They issued an "outperform" rating and a $72.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 target price on the stock in a research note on Wednesday, April 15th. Zacks Research upgraded Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. Zelman & Associates initiated coverage on Equity Lifestyle Properties in a research note on Monday, March 16th. They issued an "underperform" rating and a $59.25 target price on the stock. Finally, Truist Financial set a $67.00 target price on Equity Lifestyle Properties and gave the company a "hold" rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.20.

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.

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