Equity Lifestyle Properties, Inc. $ELS Shares Acquired by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments Inc. NY boosted its stake in Equity Lifestyle Properties by 23.3% in Q1, ending with 799,961 shares valued at about $49.9 million.
• Equity Lifestyle Properties reported Q1 earnings of $0.56 per share, missing analyst estimates of $0.84, though revenue of $397.6 million slightly topped expectations and rose 2.7% year over year.
• The REIT announced a quarterly dividend of $0.5425 per share, payable July 10, which annualizes to $2.17 per share for a 3.5% yield; analysts currently rate the stock Moderate Buy with a consensus target of $69.20.

Miller Howard Investments Inc. NY increased its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 23.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 799,961 shares of the real estate investment trust's stock after buying an additional 151,390 shares during the quarter. Miller Howard Investments Inc. NY owned about 0.41% of Equity Lifestyle Properties worth $49,934,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ELS. Empowered Funds LLC grew its position in shares of Equity Lifestyle Properties by 14.1% during the first quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust's stock worth $435,000 after acquiring an additional 804 shares during the last quarter. Jane Street Group LLC lifted its position in Equity Lifestyle Properties by 598.5% in the 1st quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust's stock valued at $7,964,000 after purchasing an additional 102,303 shares during the last quarter. Intech Investment Management LLC boosted its stake in Equity Lifestyle Properties by 62.3% during the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust's stock valued at $1,542,000 after purchasing an additional 8,873 shares during the period. Cetera Investment Advisers boosted its stake in Equity Lifestyle Properties by 111.0% during the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust's stock valued at $624,000 after purchasing an additional 5,325 shares during the period. Finally, Gamco Investors INC. ET AL bought a new position in Equity Lifestyle Properties in the 2nd quarter worth about $300,000. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity Lifestyle Properties Stock Performance

Shares of ELS opened at $62.63 on Wednesday. The firm has a 50-day moving average price of $63.08 and a 200 day moving average price of $63.63. The firm has a market capitalization of $12.15 billion, a PE ratio of 31.32, a P/E/G ratio of 3.77 and a beta of 0.67. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29. Equity Lifestyle Properties, Inc. has a 52-week low of $58.15 and a 52-week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.28). The company had revenue of $397.62 million for the quarter, compared to the consensus estimate of $395.71 million. Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.17 annualized dividend and a yield of 3.5%. Equity Lifestyle Properties's payout ratio is presently 108.50%.

Wall Street Analyst Weigh In

ELS has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Monday, June 1st. Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the stock a "hold" rating in a report on Tuesday, May 5th. Robert W. Baird raised their target price on Equity Lifestyle Properties from $73.00 to $74.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Weiss Ratings cut Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, June 8th. Finally, Wall Street Zen raised Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Equity Lifestyle Properties presently has an average rating of "Moderate Buy" and a consensus price target of $69.20.

Equity Lifestyle Properties 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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