Cibc World Market Inc. Buys New Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• CIBC World Market acquired 35,442 shares of Equity Lifestyle Properties in the second quarter, valued at approximately $2.28 million. Institutional investors and hedge funds collectively own 97.21% of the REIT’s stock.
• Analysts maintain a generally favorable but cautious outlook, with a consensus “Moderate Buy” rating and an average price target of $68.52. ELS recently traded at $64.66, near its 50- and 200-day moving averages.
• Equity Lifestyle Properties reported quarterly revenue of $397.81 million, up 5.5% year over year, but earnings of $0.50 per share fell short of expectations. The company declared a quarterly dividend of $0.5425, representing a 3.4% annualized yield.

Cibc World Market Inc. bought a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 35,442 shares of the real estate investment trust's stock, valued at approximately $2,284,000.

Other institutional investors also recently bought and sold shares of the company. Wiser Advisor Group LLC purchased a new position in shares of Equity Lifestyle Properties in the third quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in Equity Lifestyle Properties by 943.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust's stock worth $30,000 after buying an additional 453 shares in the last quarter. Clearstead Trust LLC purchased a new position in Equity Lifestyle Properties in the 2nd quarter valued at approximately $33,000. Fulcrum Asset Management LLP acquired a new position in shares of Equity Lifestyle Properties in the third quarter worth $34,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Equity Lifestyle Properties during the second quarter worth $37,000. 97.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley reiterated a "mixed" rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Truist Financial set a $67.00 price target on Equity Lifestyle Properties and gave the stock a "hold" rating in a report on Tuesday, May 5th. Wells Fargo & Company reduced their price target on 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. Barclays set a $69.00 price objective on Equity Lifestyle Properties and gave the company an "equal weight" rating in a research note on Monday, August 17th. 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 research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $68.52.

Equity Lifestyle Properties Trading Down 1.1%

NYSE:ELS opened at $64.66 on Thursday. The stock's 50 day moving average price is $64.80 and its 200 day moving average price is $64.64. The company has a market capitalization of $12.55 billion, a PE ratio of 31.09, a P/E/G 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 results on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.22). The business had revenue of $397.81 million during the quarter, compared to analysts' expectations of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. On average, research analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be paid a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, September 25th. Equity Lifestyle Properties's payout ratio is currently 104.33%.

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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