Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Mitsubishi UFJ Asset Management acquired 165,912 shares of Equity Lifestyle Properties worth approximately $10.7 million, giving it a 0.09% stake. Institutional investors collectively own 97.21% of ELS.
• Analyst sentiment is moderately positive, with one Strong Buy, seven Buy, seven Hold and one Sell rating; the consensus price target is $68.52.
• ELS shares opened at $65.49, while the REIT reported quarterly revenue of $397.81 million—above estimates—but EPS of $0.50 missed expectations. The company declared a quarterly dividend of $0.5425, implying a 3.3% annual yield.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 165,912 shares of the real estate investment trust's stock, valued at approximately $10,693,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.09% of Equity Lifestyle Properties at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ELS. Wiser Advisor Group LLC acquired a new stake in shares of Equity Lifestyle Properties during the 3rd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Equity Lifestyle Properties by 943.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 453 shares during the period. Clearstead Trust LLC grew its holdings in shares of Equity Lifestyle Properties by 74.8% in the 4th quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 231 shares during the period. Fulcrum Asset Management LLP acquired a new stake in shares of Equity Lifestyle Properties in the 3rd quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC increased its stake in Equity Lifestyle Properties by 67.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 726 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Analyst Ratings Changes

ELS has been the topic of a number of research reports. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a "strong-buy" rating in a research note on Wednesday, July 22nd. Truist Financial set a $67.00 price target on shares of Equity Lifestyle Properties and gave the company a "hold" rating in a research report on Tuesday, May 5th. Weiss Ratings raised shares of Equity Lifestyle Properties from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 14th. Odeon Capital Group set a $65.00 price objective on Equity Lifestyle Properties in a research report on Thursday, July 9th. Finally, Barclays set a $69.00 price objective on Equity Lifestyle Properties and gave the stock an "equal weight" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $68.52.

Equity Lifestyle Properties Stock Down 0.4%

Shares of NYSE ELS opened at $65.49 on Friday. Equity Lifestyle Properties, Inc. has a 52-week low of $58.72 and a 52-week high of $69.00. The firm has a fifty day moving average of $64.70 and a 200-day moving average of $64.62. The stock has a market capitalization of $12.71 billion, a PE ratio of 31.49, a P/E/G ratio of 3.83 and a beta of 0.64. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.22). The business had revenue of $397.81 million during the quarter, compared to analyst estimates of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.Equity Lifestyle Properties's revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 EPS. On average, analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be paid a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties's dividend payout ratio is 104.33%.

Equity Lifestyle Properties Company Profile

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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