Corient Private Wealth LP Buys Shares of 39,552 Equity Lifestyle Properties, Inc. $ELS

Key Points

• Corient Private Wealth purchased 39,552 shares of Equity Lifestyle Properties in the second quarter, valued at approximately $2.55 million. Institutional investors and hedge funds collectively own 97.21% of ELS.
• ELS reported quarterly revenue of $397.81 million, up 5.5% year over year and above estimates, but earnings per share of $0.50 fell short of the $0.72 analyst consensus.
• The company announced a quarterly dividend of $0.5425 per share, equivalent to an annualized $2.17 payout and a 3.4% yield. Analysts maintain a consensus “Moderate Buy” rating with a $68.52 price target, versus shares recently trading at $63.14.

Corient Private Wealth LP purchased a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 39,552 shares of the real estate investment trust's stock, valued at approximately $2,549,000.

Several other large investors have also modified their holdings of the business. Empowered Funds LLC raised its position in shares of Equity Lifestyle Properties by 3.5% during the 4th quarter. Empowered Funds LLC now owns 5,055 shares of the real estate investment trust's stock worth $306,000 after purchasing an additional 169 shares during the last quarter. Bessemer Group Inc. grew its holdings 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 valued at $46,000 after buying an additional 171 shares during 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 valued at $2,628,000 after buying an additional 172 shares during the last quarter. Private Advisor Group LLC increased its position in Equity Lifestyle Properties by 3.7% during the third quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust's stock worth $300,000 after buying an additional 178 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in Equity Lifestyle Properties by 3.5% during the first quarter. Fifth Third Bancorp now owns 5,561 shares of the real estate investment trust's stock worth $347,000 after buying an additional 189 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Trading Down 0.0%

Shares of ELS opened at $63.14 on Thursday. The stock has a fifty day moving average of $64.89 and a two-hundred day moving average of $64.54. 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 company has a market capitalization of $12.25 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 3.68 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.72 and a fifty-two week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly 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). Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The business had revenue of $397.81 million for the quarter, compared to analysts' expectations of $383.66 million. During the same period in the prior year, the company earned $0.69 EPS. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts forecast that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a dividend of $0.5425 per share. The ex-dividend date is Friday, September 25th. This represents a $2.17 annualized dividend and a yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio is 104.33%.

Analyst Upgrades and Downgrades

ELS has been the topic of several recent research reports. Wells Fargo & Company reduced their price objective 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. Jefferies Financial Group upgraded Equity Lifestyle Properties to a "strong-buy" rating in a research report on Wednesday, July 22nd. Morgan Stanley reissued a "mixed" rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Barclays set a $69.00 target price on shares of Equity Lifestyle Properties and gave the company an "equal weight" rating in a report on Monday, August 17th. Finally, Weiss Ratings raised shares of Equity Lifestyle Properties from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 14th. 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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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