Strs Ohio Increases Stake in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Strs Ohio boosted its stake in Equity Lifestyle Properties by 27.2% in the first quarter, buying an additional 74,693 shares and bringing its total holding to 348,995 shares worth about $21.8 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 97.21% of the company’s stock. Several other investors also added to or opened positions during the quarter.
• Analysts are mixed but generally constructive on ELS, with a consensus rating of “Moderate Buy” and an average price target of $69.20. Recent reports included target cuts from Wells Fargo and Barclays, but Jefferies upgraded the stock to “strong-buy.”

Strs Ohio raised its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 27.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 348,995 shares of the real estate investment trust's stock after purchasing an additional 74,693 shares during the period. Strs Ohio owned 0.18% of Equity Lifestyle Properties worth $21,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ELS. Impact Partnership Wealth LLC acquired a new position in Equity Lifestyle Properties during the 1st quarter valued at about $214,000. Inspire Investing LLC grew its stake in shares of Equity Lifestyle Properties by 2.5% during the first quarter. Inspire Investing LLC now owns 24,874 shares of the real estate investment trust's stock worth $1,553,000 after acquiring an additional 610 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Equity Lifestyle Properties by 6.8% during the first quarter. Janney Montgomery Scott LLC now owns 188,285 shares of the real estate investment trust's stock valued at $11,753,000 after acquiring an additional 11,959 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Equity Lifestyle Properties in the 1st quarter valued at approximately $1,954,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Equity Lifestyle Properties in the 1st quarter valued at approximately $3,508,000. Hedge funds and other institutional investors own 97.21% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ELS shares. Wells Fargo & Company dropped their target price on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating on the stock in a research report on Monday, June 1st. Barclays lowered their price objective on shares of Equity Lifestyle Properties from $71.00 to $68.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Zelman & Associates started coverage on shares of Equity Lifestyle Properties in a report on Monday, March 16th. They set an "underperform" rating and a $59.25 price objective on the stock. Jefferies Financial Group raised Equity Lifestyle Properties to a "strong-buy" rating in a research report on Friday, June 26th. Finally, Robert W. Baird raised their target price on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.20.

Equity Lifestyle Properties Stock Performance

Shares of NYSE ELS opened at $66.17 on Friday. The company has a 50 day simple moving average of $63.09 and a two-hundred day simple moving average of $63.81. The stock has a market cap of $12.83 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 4.03 and a beta of 0.66. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.29. Equity Lifestyle Properties, Inc. has a 12 month low of $58.15 and a 12 month high of $69.00.

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

Equity Lifestyle Properties Dividend Announcement

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

About Equity Lifestyle Properties

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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