Equity Lifestyle Properties, Inc. $ELS Shares Bought by Allstate Corp

Key Points

• Allstate Corp boosted its stake in Equity Lifestyle Properties by 143.3% in the fourth quarter, buying an additional 26,307 shares and bringing its total holding to 44,661 shares worth about $2.7 million.
• Equity Lifestyle Properties recently reported mixed quarterly results: earnings of $0.56 per share missed estimates, while revenue of $397.6 million slightly topped expectations and rose 2.7% year over year.
• The company объявed a quarterly dividend of $0.5425 per share, equal to $2.17 annually and a 3.5% yield, though the payout ratio is high at 108.5%.

Allstate Corp lifted its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 143.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,661 shares of the real estate investment trust's stock after acquiring an additional 26,307 shares during the period. Allstate Corp's holdings in Equity Lifestyle Properties were worth $2,707,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new stake in shares of Equity Lifestyle Properties in the fourth quarter worth $25,000. Wiser Advisor Group LLC acquired a new stake in Equity Lifestyle Properties during the 3rd quarter valued at $25,000. Caitong International Asset Management Co. Ltd grew 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 valued at $30,000 after purchasing an additional 453 shares in the last quarter. Clearstead Trust LLC grew its holdings in Equity Lifestyle Properties by 74.8% during the 4th quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 231 shares in the last quarter. Finally, Fulcrum Asset Management LLP acquired a new stake in Equity Lifestyle Properties during the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 97.21% of the company's stock.

Equity Lifestyle Properties Trading Down 0.0%

NYSE ELS opened at $62.43 on Thursday. Equity Lifestyle Properties, Inc. has a 12 month low of $58.15 and a 12 month high of $69.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market capitalization of $12.11 billion, a price-to-earnings ratio of 31.22, a price-to-earnings-growth ratio of 3.80 and a beta of 0.69. The company's fifty day moving average price is $63.53 and its two-hundred day moving average price is $63.60.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings data 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). Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The company had revenue of $397.62 million for the quarter, compared to the consensus estimate of $395.71 million. During the same quarter last year, the company earned $0.57 earnings per share. The company's revenue was up 2.7% compared to the same quarter last year. As a group, research analysts predict that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, June 26th. Equity Lifestyle Properties's dividend payout ratio is 108.50%.

Insider Buying and Selling

In other Equity Lifestyle Properties news, Director David J. Contis sold 3,000 shares of the stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total transaction of $201,660.00. Following the transaction, the director directly owned 14,890 shares in the company, valued at $1,000,905.80. This represents a 16.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ELS has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. Barclays lowered their price target on shares of Equity Lifestyle Properties from $71.00 to $68.00 and set an "overweight" rating for the company in a report on Monday, May 11th. BMO Capital Markets reaffirmed an "outperform" rating and set a $75.00 price target (up from $72.00) on shares of Equity Lifestyle Properties in a report on Wednesday, February 18th. Robert W. Baird raised their price target on shares of Equity Lifestyle Properties from $73.00 to $74.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Finally, Zacks Research raised shares of Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $69.27.

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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