Principal Financial Group Inc. Acquires 66,772 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• Principal Financial Group increased its stake in Equity Lifestyle Properties by 66,772 shares in the first quarter, bringing its holdings to 6.44 million shares valued at about $401.7 million.
• Equity Lifestyle Properties reported mixed quarterly results, with revenue slightly above expectations at $397.6 million but EPS of $0.56 missing analyst estimates of $0.84. Analysts now expect the REIT to earn 3.18 EPS for the full year.
• The stock recently traded up 2.4% to $65.00 and offers a 3.3% dividend yield, though its dividend payout ratio is high at 108.5%. Wall Street’s consensus rating remains Moderate Buy with a target price of $68.92.

Principal Financial Group Inc. increased its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,435,365 shares of the real estate investment trust's stock after buying an additional 66,772 shares during the quarter. Principal Financial Group Inc. owned 3.32% of Equity Lifestyle Properties worth $401,698,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Fermata Advisors LLC raised its position in Equity Lifestyle Properties by 471.9% in the 4th quarter. Fermata Advisors LLC now owns 33,933 shares of the real estate investment trust's stock valued at $2,057,000 after purchasing an additional 28,000 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Equity Lifestyle Properties by 11.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 337,948 shares of the real estate investment trust's stock valued at $20,206,000 after buying an additional 34,946 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Equity Lifestyle Properties by 1,104.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 673,072 shares of the real estate investment trust's stock valued at $40,794,000 after buying an additional 617,202 shares in the last quarter. Swiss Life Asset Management Ltd raised its holdings in shares of Equity Lifestyle Properties by 232.3% in the third quarter. Swiss Life Asset Management Ltd now owns 56,617 shares of the real estate investment trust's stock valued at $3,437,000 after buying an additional 39,580 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Equity Lifestyle Properties by 13.4% in the fourth quarter. Legal & General Group Plc now owns 1,365,902 shares of the real estate investment trust's stock valued at $82,787,000 after buying an additional 161,210 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Equity Lifestyle Properties Trading Up 2.4%

NYSE ELS opened at $65.00 on Tuesday. Equity Lifestyle Properties, Inc. has a 12 month low of $58.15 and a 12 month high of $69.00. The stock has a 50-day simple moving average of $63.25 and a 200 day simple moving average of $63.93. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $12.61 billion, a PE ratio of 32.50, a P/E/G ratio of 3.86 and a beta of 0.66.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.28). The company had revenue of $397.62 million for the quarter, compared to the consensus estimate of $395.71 million. Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.Equity Lifestyle Properties's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were paid a dividend of $0.5425 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.17 annualized dividend and a yield of 3.3%. Equity Lifestyle Properties's dividend payout ratio (DPR) is presently 108.50%.

Analyst Ratings Changes

ELS has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Zelman & Associates assumed coverage on shares of Equity Lifestyle Properties in a research report on Monday, March 16th. They issued an "underperform" rating and a $59.25 price objective for the company. Barclays dropped their target price on Equity Lifestyle Properties from $71.00 to $68.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 price target on the stock in a report on Wednesday, April 15th. Finally, Odean Cap Resea raised Equity Lifestyle Properties to a "hold" rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.92.

Equity Lifestyle Properties 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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