Equity Lifestyle Properties, Inc. $ELS Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group raised its stake in Equity Lifestyle Properties by 2.4% in Q4, buying 592,013 shares to hold 25,477,480 shares (about 13.14%) valued at roughly $1.544 billion.
• Equity Lifestyle missed quarterly EPS expectations ($0.56 vs. $0.84 consensus) while reporting $397.6M in revenue, and announced a quarterly dividend of $0.5425 ($2.17 annualized) for a 3.4% yield with a payout ratio of 108.5%.
• Analysts have an average rating of “Moderate Buy” on ELS with an average price target of $69.63, and several firms recently issued Buy/Outperform ratings with targets around $70–$72.

Vanguard Group Inc. increased its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,477,480 shares of the real estate investment trust's stock after acquiring an additional 592,013 shares during the quarter. Vanguard Group Inc. owned about 13.14% of Equity Lifestyle Properties worth $1,544,190,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wiser Advisor Group LLC acquired a new stake in Equity Lifestyle Properties during the 3rd quarter worth $25,000. GoalVest Advisory LLC acquired a new stake in Equity Lifestyle Properties during the 4th quarter worth $25,000. Caitong International Asset Management Co. Ltd raised its stake 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 acquiring an additional 453 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in Equity Lifestyle Properties during the 3rd quarter worth $34,000. Finally, Bessemer Group Inc. raised its stake in Equity Lifestyle Properties by 126.9% during the 3rd quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 321 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on ELS shares. Mizuho started coverage on shares of Equity Lifestyle Properties in a research note on Tuesday, March 31st. They issued an "outperform" rating and a $72.00 price objective on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $70.00 price objective on shares of Equity Lifestyle Properties in a research note on Friday, January 30th. Zacks Research upgraded shares of Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. Barclays restated an "overweight" rating and issued a $71.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a research note on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 price objective on the stock in a research note on Wednesday, April 15th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.63.

Insider Buying and Selling

In related news, Director David J. Contis sold 3,000 shares of the business's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total transaction of $201,660.00. Following the sale, the director owned 14,890 shares of the company's stock, valued at approximately $1,000,905.80. The trade was a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.80% of the company's stock.

Equity Lifestyle Properties Stock Up 1.9%

Shares of NYSE:ELS opened at $63.41 on Friday. The company has a market cap of $12.30 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 3.78 and a beta of 0.76. The firm's 50-day simple moving average is $65.19 and its 200-day simple moving average is $63.42. 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 fifty-two week low of $58.15 and a fifty-two week high of $69.00.

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 for the quarter, missing the consensus estimate of $0.84 by ($0.28). The firm had revenue of $397.62 million during the quarter, compared to analysts' expectations of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The firm's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. As a group, equities research analysts predict that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.4%. Equity Lifestyle Properties's payout ratio is currently 108.50%.

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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