California State Teachers Retirement System Has $895.34 Million Stake in Equity Lifestyle Properties, Inc. $ELS

Key Points

• California State Teachers Retirement System dramatically increased its ELS position by 6,287.7% in the second quarter, acquiring 13.67 million additional shares. Its 13.89 million shares were valued at approximately $895.3 million, representing a 7.16% stake.
• Analysts maintain a generally favorable outlook, with Equity Lifestyle Properties carrying a consensus “Moderate Buy” rating and an average price target of $68.30. However, recent targets range from $64 to $69, and several analysts have assigned “Hold” or “Equal Weight” ratings.
• ELS reported quarterly revenue of $397.8 million, exceeding estimates, though earnings per share of $0.50 missed the $0.72 consensus. The company declared a quarterly dividend of $0.5425 per share, equating to a 3.6% annualized yield.

California State Teachers Retirement System raised its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 6,287.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,891,940 shares of the real estate investment trust's stock after purchasing an additional 13,674,462 shares during the quarter. California State Teachers Retirement System owned approximately 7.16% of Equity Lifestyle Properties worth $895,336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ELS. Empowered Funds LLC increased its stake in shares of Equity Lifestyle Properties by 3.5% in the fourth quarter. Empowered Funds LLC now owns 5,055 shares of the real estate investment trust's stock valued at $306,000 after buying an additional 169 shares in the last quarter. Bessemer Group Inc. lifted its position in Equity Lifestyle Properties by 30.3% during the 1st quarter. Bessemer Group Inc. now owns 735 shares of the real estate investment trust's stock worth $46,000 after buying an additional 171 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Equity Lifestyle Properties by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 43,367 shares of the real estate investment trust's stock worth $2,628,000 after acquiring an additional 172 shares during the last quarter. Private Advisor Group LLC increased its position in Equity Lifestyle Properties by 3.7% in the 3rd quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust's stock valued at $300,000 after acquiring an additional 178 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in Equity Lifestyle Properties by 3.5% in the 1st quarter. Fifth Third Bancorp now owns 5,561 shares of the real estate investment trust's stock valued at $347,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Odeon Capital Group set a $65.00 target price on shares of Equity Lifestyle Properties in a research report on Thursday, July 9th. Barclays set a $69.00 price objective on shares of Equity Lifestyle Properties and gave the stock an "equal weight" rating in a research report on Monday, August 17th. Truist Financial set a $64.00 price objective on Equity Lifestyle Properties and gave the stock a "hold" rating in a report on Friday. Weiss Ratings downgraded shares of Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, September 8th. Finally, Wells Fargo & Company cut their target price on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating on the stock in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $68.30.

Equity Lifestyle Properties Stock Performance

Shares of Equity Lifestyle Properties stock opened at $60.10 on Monday. The firm has a fifty day moving average of $64.44 and a two-hundred day moving average of $64.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.02 and a current ratio of 0.02. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 3.50 and a beta of 0.64. 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 posted its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $383.66 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The business also recently announced 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 3.6%. The ex-dividend date 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 real estate investment trust that owns, operates and manages residential communities and resort properties across the United States. Its portfolio primarily consists of manufactured home communities, recreational vehicle (RV) resorts and campgrounds.

The company provides long-term homesites for manufactured housing residents, as well as seasonal and transient accommodations for RV owners and vacationers. Its properties generally offer amenities and services such as clubhouses, swimming pools, recreational facilities, community events and utility connections.

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