Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Equity Lifestyle Properties, Inc. by 2.9%, acquiring an additional 7,569 shares, bringing its total ownership to 267,030 shares valued at approximately $17.8 million.
• The recently announced quarterly dividend of $0.515 will be paid on October 10th, with an annualized yield of 3.4%, although the company's payout ratio stands at 106.74%.
• Equity Lifestyle Properties has seen various analyst recommendations, with an average rating of "Moderate Buy" and a price target of $71.50, reflecting a positive outlook amidst recent earnings results.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267,030 shares of the real estate investment trust's stock after purchasing an additional 7,569 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.14% of Equity Lifestyle Properties worth $17,811,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. boosted its position in Equity Lifestyle Properties by 121.4% during the 4th quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 210 shares in the last quarter. Farther Finance Advisors LLC boosted its position 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 valued at $96,000 after acquiring an additional 635 shares in the last quarter. Blue Trust Inc. boosted its position 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 valued at $124,000 after acquiring an additional 1,452 shares in the last quarter. Headlands Technologies LLC bought a new stake in Equity Lifestyle Properties during the 1st quarter valued at $141,000. Finally, UMB Bank n.a. boosted its position in 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 valued at $142,000 after acquiring an additional 1,235 shares in the last quarter. Institutional investors own 97.21% of the company's stock.

Equity Lifestyle Properties Stock Performance

Shares of NYSE ELS traded down $0.56 during trading on Thursday, reaching $60.37. 700,807 shares of the company traded hands, compared to its average volume of 1,535,188. The firm's fifty day simple moving average is $61.62 and its 200 day simple moving average is $64.18. The stock has a market cap of $11.70 billion, a P/E ratio of 31.28, a PEG ratio of 3.21 and a beta of 0.70. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $76.60. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.24.

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

Equity Lifestyle Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid 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 dividend yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio (DPR) is presently 106.74%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ELS shares. Truist Financial set a $68.00 price objective on Equity Lifestyle Properties and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Compass Point raised Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price objective for the company in a research report on Tuesday, July 22nd. Royal Bank Of Canada lowered their price objective on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. BMO Capital Markets lowered their price objective on Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company lowered their price objective on Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.