Equity Lifestyle Properties, Inc. $ELS Shares Bought by Legal & General Group Plc

Key Points

• Legal & General Group Plc increased its stake in Equity Lifestyle Properties by 13.4% in the fourth quarter, adding 161,210 shares and bringing its total holding to 1,365,902 shares worth about $82.8 million.
• Equity Lifestyle Properties reported quarterly EPS of $0.56, missing analyst estimates of $0.84, though revenue of $397.6 million came in slightly above expectations and rose 2.7% year over year.
• The company declared a quarterly dividend of $0.5425 per share to be paid July 10, implying a 3.5% yield, while analysts currently rate the stock Moderate Buy with an average target price of $69.27.

Legal & General Group Plc raised its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,365,902 shares of the real estate investment trust's stock after acquiring an additional 161,210 shares during the period. Legal & General Group Plc owned approximately 0.70% of Equity Lifestyle Properties worth $82,787,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wiser Advisor Group LLC acquired a new stake in Equity Lifestyle Properties in the third quarter valued at approximately $25,000. GoalVest Advisory LLC acquired a new stake in shares of Equity Lifestyle Properties during the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Equity Lifestyle Properties by 943.8% during the third 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 during the period. Fulcrum Asset Management LLP acquired a new stake in shares of Equity Lifestyle Properties during the third quarter worth $34,000. Finally, Bessemer Group Inc. lifted its stake in shares of Equity Lifestyle Properties by 126.9% during the third quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust's stock worth $35,000 after buying an additional 321 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Trading Down 0.7%

Shares of Equity Lifestyle Properties stock opened at $61.82 on Friday. 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 firm has a fifty day moving average price of $63.32 and a 200 day moving average price of $63.58. Equity Lifestyle Properties, Inc. has a 1 year low of $58.15 and a 1 year high of $69.00. The stock has a market cap of $11.99 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 3.79 and a beta of 0.69.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.28). Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The business had revenue of $397.62 million for the quarter, compared to analysts' expectations of $395.71 million. During the same period last year, the business earned $0.57 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts predict that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The firm 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. This represents a $2.17 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, June 26th. Equity Lifestyle Properties's dividend payout ratio (DPR) is 108.50%.

Insider Activity

In related news, Director David J. Contis sold 3,000 shares of the firm's 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 completion of the transaction, the director owned 14,890 shares of the company's stock, valued at $1,000,905.80. This trade represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ELS. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 price objective for the company in a research note on Wednesday, April 15th. Wells Fargo & Company reiterated an "equal weight" rating and set a $70.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a research note on Friday, February 27th. Truist Financial set a $67.00 price objective on shares of Equity Lifestyle Properties and gave the stock a "hold" rating in a research note on Tuesday, May 5th. BMO Capital Markets reiterated an "outperform" rating and set a $75.00 price objective (up from $72.00) on shares of Equity Lifestyle Properties in a research note on Wednesday, February 18th. Finally, Robert W. Baird lifted their price objective on shares of Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.27.

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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