Swiss National Bank Acquires 11,400 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

Key Points

• The Swiss National Bank has increased its holdings in Equity Lifestyle Properties, Inc. by 2.3%, owning approximately 0.27% valued at $34.14 million after acquiring an additional 11,400 shares.
• Several institutional investors, including Wells Fargo and Bessemer Group, have also increased their positions in Equity Lifestyle Properties, reflecting a strong interest from the investment community.
• Equity Lifestyle Properties recently announced a quarterly dividend of $0.515 per share, representing an annualized yield of 3.4%, although the payout ratio stands at 106.74%.

Swiss National Bank raised its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 511,900 shares of the real estate investment trust's stock after buying an additional 11,400 shares during the quarter. Swiss National Bank owned about 0.27% of Equity Lifestyle Properties worth $34,144,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Equity Lifestyle Properties by 4.6% during the 1st quarter. Principal Financial Group Inc. now owns 6,349,010 shares of the real estate investment trust's stock worth $423,479,000 after buying an additional 278,193 shares during the period. QRG Capital Management Inc. lifted its position in shares of Equity Lifestyle Properties by 11.1% during the 1st quarter. QRG Capital Management Inc. now owns 11,602 shares of the real estate investment trust's stock valued at $774,000 after acquiring an additional 1,162 shares during the period. Farther Finance Advisors LLC increased its position in Equity Lifestyle Properties by 78.7% in 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 buying an additional 635 shares in the last quarter. Dupont Capital Management Corp raised its holdings in Equity Lifestyle Properties by 33.8% during the first quarter. Dupont Capital Management Corp now owns 145,004 shares of the real estate investment trust's stock worth $9,672,000 after buying an additional 36,655 shares during the last quarter. Finally, KBC Group NV raised its holdings in Equity Lifestyle Properties by 3.2% during the first quarter. KBC Group NV now owns 145,262 shares of the real estate investment trust's stock worth $9,689,000 after buying an additional 4,450 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Truist Financial set a $68.00 target price on shares of Equity Lifestyle Properties and gave the company a "buy" rating in a report on Wednesday, July 30th. Barclays upgraded shares of Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $70.00 to $67.00 in a report on Tuesday, July 29th. Royal Bank Of Canada reduced their target price on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Equity Lifestyle Properties currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.50.

Equity Lifestyle Properties Price Performance

Shares of ELS stock traded up $0.36 during trading hours on Friday, reaching $60.65. The stock had a trading volume of 614,682 shares, compared to its average volume of 1,531,559. The stock's fifty day simple moving average is $61.57 and its 200 day simple moving average is $64.12. 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, Inc. has a 12 month low of $58.15 and a 12 month high of $76.60. The firm has a market capitalization of $11.75 billion, a PE ratio of 31.42, a PEG ratio of 3.25 and a beta of 0.70.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, meeting the consensus estimate of $0.69. The business had revenue of $313.29 million during the quarter, compared to analysts' expectations of $377.59 million. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. The firm's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 EPS. On average, equities research analysts predict that Equity Lifestyle Properties, Inc. will post 3.07 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 10th. Stockholders of record on Friday, September 26th will be given a $0.515 dividend. The ex-dividend date of this dividend 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 is currently 106.74%.

Equity Lifestyle Properties Company Profile

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.