Sanctuary Advisors LLC Acquires New Shares in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Sanctuary Advisors acquired 18,425 shares of Equity Lifestyle Properties in the second quarter, valued at approximately $1.19 million. Institutional investors and hedge funds collectively own 97.21% of ELS.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $68.52, despite recent target reductions from some brokerages.
• ELS shares opened at $63.89, while the company reported quarterly revenue growth of 5.5% but missed EPS estimates. It also declared a quarterly dividend of $0.5425 per share, representing an annualized yield of about 3.4%.

Sanctuary Advisors LLC acquired a new position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,425 shares of the real estate investment trust's stock, valued at approximately $1,187,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELS. Empowered Funds LLC grew its holdings in shares of Equity Lifestyle Properties by 14.1% during the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust's stock worth $435,000 after purchasing an additional 804 shares during the period. Jane Street Group LLC raised its holdings in Equity Lifestyle Properties by 598.5% in the 1st quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust's stock valued at $7,964,000 after buying an additional 102,303 shares during the period. Intech Investment Management LLC raised its holdings in Equity Lifestyle Properties by 62.3% in the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust's stock valued at $1,542,000 after buying an additional 8,873 shares during the period. Cetera Investment Advisers raised its holdings in Equity Lifestyle Properties by 111.0% in the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust's stock valued at $624,000 after buying an additional 5,325 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new position in Equity Lifestyle Properties in the second quarter valued at about $300,000. Institutional investors and hedge funds own 97.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ELS. Wells Fargo & Company lowered their target price on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating for the company in a research note on Monday, June 1st. 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. Truist Financial set a $67.00 price objective on shares of Equity Lifestyle Properties and gave the stock a "hold" rating in a report on Tuesday, May 5th. Odeon Capital Group set a $65.00 price objective on shares of Equity Lifestyle Properties in a research report on Thursday, July 9th. Finally, Barclays set a $69.00 target price on shares of Equity Lifestyle Properties and gave the company an "equal weight" rating in a report on Monday, August 17th. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, Equity Lifestyle Properties currently has a consensus rating of "Moderate Buy" and an average price target of $68.52.

Equity Lifestyle Properties Stock Down 1.2%

Shares of NYSE:ELS opened at $63.89 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02. The firm has a market capitalization of $12.40 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 3.77 and a beta of 0.64. The firm's 50-day moving average is $64.83 and its two-hundred day moving average is $64.62. Equity Lifestyle Properties, Inc. has a 1 year low of $58.72 and a 1 year high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings results 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 for 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%.The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. Analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be issued a dividend of $0.5425 per share. The ex-dividend date is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio is 104.33%.

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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