Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 131,619 shares of the real estate investment trust's stock, valued at approximately $8,483,000. Meiji Yasuda Asset Management Co Ltd. owned about 0.07% of Equity Lifestyle Properties as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in ELS. Vanguard Group Inc. grew its stake in shares of Equity Lifestyle Properties by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust's stock valued at $1,544,190,000 after buying an additional 592,013 shares in the last quarter. BlackRock Inc. bought a new position in shares of Equity Lifestyle Properties in the 2nd quarter valued at about $1,576,449,000. Price T Rowe Associates Inc. MD grew its position in shares of Equity Lifestyle Properties by 303.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust's stock valued at $966,648,000 after acquiring an additional 11,999,874 shares during the period. Cohen & Steers Inc. increased its stake in shares of Equity Lifestyle Properties by 26.8% during the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust's stock worth $643,331,000 after purchasing an additional 2,246,622 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Equity Lifestyle Properties by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 6,435,365 shares of the real estate investment trust's stock valued at $401,698,000 after purchasing an additional 66,772 shares during the period. Institutional investors own 97.21% of the company's stock.
Analyst Upgrades and Downgrades
ELS has been the topic of a number of recent analyst reports. Morgan Stanley restated a "mixed" rating and issued a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Truist Financial set a $67.00 price objective on shares of Equity Lifestyle Properties and gave the stock a "hold" rating in a research report on Tuesday, May 5th. Jefferies Financial Group upgraded shares of Equity Lifestyle Properties to a "strong-buy" rating in a research note on Wednesday, July 22nd. Wells Fargo & Company lowered their price target on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating on the stock in a report on Monday, June 1st. Finally, Weiss Ratings upgraded Equity Lifestyle Properties from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.52.
Read Our Latest Research Report on Equity Lifestyle Properties
Equity Lifestyle Properties Price Performance
Shares of Equity Lifestyle Properties stock opened at $65.48 on Monday. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 3.81 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a twelve month low of $58.72 and a twelve month high of $69.00. The company has a 50-day simple moving average of $64.71 and a two-hundred day simple moving average of $64.64.
Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The firm had revenue of $397.81 million for the quarter, compared to the consensus estimate of $383.66 million. During the same period in the prior year, the company earned $0.69 EPS. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts forecast that Equity Lifestyle Properties, Inc. will post 3.2 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 9th. Shareholders of record on Friday, September 25th will be given a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties's payout ratio is currently 104.33%.
Equity Lifestyle Properties Profile
(
Free Report)
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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