Equity Lifestyle Properties, Inc. (NYSE:ELS) Shares Bought by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its holdings in Equity Lifestyle Properties by 12.7% during the first quarter, owning approximately 4.2 million shares worth $280.8 million as of its latest SEC filing.
• The company reported $0.69 EPS for the quarter, matching analyst estimates but showing a slight revenue decline of 0.8% year-over-year, with total revenue of $313.3 million.
• Equity Lifestyle Properties announced a quarterly dividend of $0.515, resulting in an annualized yield of 3.4% and a payout ratio currently at 106.74%.

JPMorgan Chase & Co. boosted its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 12.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,209,452 shares of the real estate investment trust's stock after purchasing an additional 474,495 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.20% of Equity Lifestyle Properties worth $280,771,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ELS. Bessemer Group Inc. boosted its stake in Equity Lifestyle Properties by 121.4% in the 4th quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 210 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Equity Lifestyle Properties by 78.7% during the 1st quarter. Farther Finance Advisors LLC now owns 1,442 shares of the real estate investment trust's stock worth $96,000 after acquiring an additional 635 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Equity Lifestyle Properties by 351.6% during the 1st quarter. Blue Trust Inc. now owns 1,865 shares of the real estate investment trust's stock worth $124,000 after acquiring an additional 1,452 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Equity Lifestyle Properties during the 1st quarter worth approximately $141,000. Finally, UMB Bank n.a. raised its holdings in shares of Equity Lifestyle Properties by 137.5% during the 1st quarter. UMB Bank n.a. now owns 2,133 shares of the real estate investment trust's stock worth $142,000 after acquiring an additional 1,235 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity Lifestyle Properties Stock Performance

Shares of NYSE:ELS traded down $0.56 during trading on Thursday, hitting $60.37. The stock had a trading volume of 950,012 shares, compared to its average volume of 2,005,937. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $76.60. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 3.25 and a beta of 0.70. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $61.57 and a two-hundred day simple moving average of $64.12.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, meeting the consensus estimate of $0.69. The company had revenue of $313.29 million during the quarter, compared to analysts' expectations of $377.59 million. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%. Equity Lifestyle Properties's quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.66 earnings per share. On average, equities research analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.4%. Equity Lifestyle Properties's payout ratio is currently 106.74%.

Analyst Upgrades and Downgrades

ELS has been the topic of several recent research reports. BMO Capital Markets decreased their price objective on Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Barclays raised Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $70.00 to $67.00 in a research report on Tuesday, July 29th. Compass Point raised Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price objective on the stock in a research report on Tuesday, July 22nd. Truist Financial set a $68.00 price objective on Equity Lifestyle Properties and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company cut their price objective on Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $71.50.

Equity Lifestyle Properties Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.