Lecap Asset Management Ltd. Acquires 17,656 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

Lecap Asset Management Ltd. grew its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 71.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,538 shares of the real estate investment trust's stock after purchasing an additional 17,656 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Equity Lifestyle Properties were worth $2,837,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Invesco Ltd. boosted its stake in Equity Lifestyle Properties by 592.7% during the 4th quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust's stock worth $260,955,000 after acquiring an additional 3,352,584 shares during the last quarter. Norges Bank bought a new position in Equity Lifestyle Properties during the 4th quarter worth approximately $163,212,000. Northern Trust Corp boosted its stake in Equity Lifestyle Properties by 43.3% during the 4th quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust's stock worth $162,162,000 after acquiring an additional 735,580 shares during the last quarter. Millennium Management LLC boosted its stake in Equity Lifestyle Properties by 221.2% during the 4th quarter. Millennium Management LLC now owns 975,391 shares of the real estate investment trust's stock worth $64,961,000 after acquiring an additional 671,703 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC bought a new position in Equity Lifestyle Properties during the 4th quarter worth approximately $41,391,000. Institutional investors own 97.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ELS shares. BMO Capital Markets reduced 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 note on Tuesday, April 22nd. Barclays assumed coverage on shares of Equity Lifestyle Properties in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $70.00 price target on the stock. Truist Financial cut their price target on shares of Equity Lifestyle Properties from $72.00 to $71.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Jefferies Financial Group assumed coverage on shares of Equity Lifestyle Properties in a research note on Tuesday, April 8th. They issued a "buy" rating and a $80.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $73.90.

Equity Lifestyle Properties Stock Down 1.9%

NYSE:ELS traded down $1.19 on Friday, hitting $61.43. 1,612,649 shares of the company's stock were exchanged, compared to its average volume of 1,323,752. The firm has a 50-day moving average price of $63.46 and a 200-day moving average price of $65.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.03 and a quick ratio of 0.03. Equity Lifestyle Properties, Inc. has a 52 week low of $58.86 and a 52 week high of $76.60. The company has a market cap of $11.74 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 3.38 and a beta of 0.73.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.83. Equity Lifestyle Properties had a return on equity of 21.99% and a net margin of 23.99%. The business had revenue of $327.21 million for the quarter, compared to the consensus estimate of $391.34 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. As a group, analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, June 27th. Equity Lifestyle Properties's payout ratio is presently 106.74%.

Insider Activity at Equity Lifestyle Properties

In other news, CFO Paul Seavey sold 10,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total value of $647,200.00. Following the sale, the chief financial officer now directly owns 78,162 shares of the company's stock, valued at approximately $5,058,644.64. This represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

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.