JPMorgan Chase & Co. Boosts Holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS)

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 position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 12.7% during the first quarter, according to its most recent Form 13F 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 period. JPMorgan Chase & Co. owned approximately 2.20% of Equity Lifestyle Properties worth $280,771,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in Equity Lifestyle Properties by 121.4% during the fourth 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 increased its stake in 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 buying an additional 635 shares during the period. Blue Trust Inc. increased its stake in 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 buying an additional 1,452 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Equity Lifestyle Properties in the 1st quarter valued at approximately $141,000. Finally, UMB Bank n.a. increased its position in shares of Equity Lifestyle Properties by 137.5% in the 1st quarter. UMB Bank n.a. now owns 2,133 shares of the real estate investment trust's stock valued at $142,000 after purchasing an additional 1,235 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Stock Performance

NYSE:ELS traded up $0.37 during trading hours on Friday, reaching $60.66. 1,219,570 shares of the company's stock were exchanged, compared to its average volume of 1,966,618. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 31.43, a P/E/G ratio of 3.24 and a beta of 0.70. The company has a 50-day moving average of $61.54 and a 200 day moving average of $64.07. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.24. Equity Lifestyle Properties, Inc. has a 1-year low of $58.15 and a 1-year high of $76.60.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.69 EPS for the quarter, hitting analysts' consensus estimates of $0.69. The company had revenue of $313.29 million during the quarter, compared to the consensus estimate of $377.59 million. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. Equity Lifestyle Properties's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. Research analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have commented on ELS. Truist Financial set a $68.00 price objective on shares of Equity Lifestyle Properties and gave the company a "buy" rating in a research report on Wednesday, July 30th. Compass Point raised shares of 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. Wells Fargo & Company dropped their price objective on shares of 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. BMO Capital Markets dropped their price objective on shares of Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wall Street Zen cut shares of Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $71.50.

About Equity Lifestyle Properties

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.