Algert Global LLC Invests $5.60 Million in Equity Lifestyle Properties, Inc. $ELS

Algert Global LLC acquired a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 86,850 shares of the real estate investment trust's stock, valued at approximately $5,597,000.

A number of other large investors have also made changes to their positions in ELS. Wiser Advisor Group LLC purchased a new stake in shares of Equity Lifestyle Properties during the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd boosted its position in Equity Lifestyle Properties by 943.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 453 shares during the last quarter. Clearstead Trust LLC purchased a new stake in Equity Lifestyle Properties in the 2nd quarter worth approximately $33,000. Fulcrum Asset Management LLP acquired a new position in Equity Lifestyle Properties in the 3rd quarter valued at $34,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Equity Lifestyle Properties in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 97.21% of the company's stock.

Equity Lifestyle Properties Trading Down 1.2%

ELS stock opened at $63.89 on Friday. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 3.77 and a beta of 0.64. The business has a fifty day simple moving average of $64.83 and a 200-day simple moving average of $64.62. 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 issued 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). The firm had revenue of $397.81 million during the quarter, compared to analyst estimates of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. Equity Lifestyle Properties's revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS. On average, 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 announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.5425 per share. The ex-dividend date is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.4%. Equity Lifestyle Properties's payout ratio is presently 104.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ELS shares. Jefferies Financial Group upgraded Equity Lifestyle Properties to a "strong-buy" rating in a report on Wednesday, July 22nd. Wells Fargo & Company dropped their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating for the company in a research note on Monday, June 1st. Odeon Capital Group set a $65.00 target price on Equity Lifestyle Properties in a research report on Thursday, July 9th. Morgan Stanley reissued a "mixed" rating and issued a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Finally, Truist Financial set a $67.00 price target on Equity Lifestyle Properties and gave the company a "hold" rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $68.52.

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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