The Manufacturers Life Insurance Company Buys New Holdings in Equity Lifestyle Properties, Inc. $ELS

Key Points

• The Manufacturers Life Insurance Company acquired 126,532 shares of Equity Lifestyle Properties in the second quarter, valued at approximately $8.16 million. Institutional investors and hedge funds collectively own 97.21% of ELS.
• ELS shares opened at $63.63, near the middle of their 52-week range, while the company’s latest quarterly revenue rose 5.5% year over year to $397.81 million. However, EPS of $0.50 missed analyst expectations of $0.72.
• Equity Lifestyle Properties declared a quarterly dividend of $0.5425 per share, equivalent to a 3.4% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $68.52.

The Manufacturers Life Insurance Company purchased a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 126,532 shares of the real estate investment trust's stock, valued at approximately $8,155,000. The Manufacturers Life Insurance Company owned 0.07% of Equity Lifestyle Properties at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in shares of Equity Lifestyle Properties by 3.5% in the 4th quarter. Empowered Funds LLC now owns 5,055 shares of the real estate investment trust's stock valued at $306,000 after purchasing an additional 169 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Equity Lifestyle Properties by 30.3% during the 1st quarter. Bessemer Group Inc. now owns 735 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 171 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in Equity Lifestyle Properties by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 43,367 shares of the real estate investment trust's stock worth $2,628,000 after purchasing an additional 172 shares in the last quarter. Private Advisor Group LLC raised its holdings in Equity Lifestyle Properties by 3.7% in the third quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust's stock valued at $300,000 after buying an additional 178 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Equity Lifestyle Properties by 3.5% in the first quarter. Fifth Third Bancorp now owns 5,561 shares of the real estate investment trust's stock valued at $347,000 after buying an additional 189 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Stock Down 0.2%

NYSE ELS opened at $63.63 on Monday. 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, Inc. has a fifty-two week low of $58.72 and a fifty-two week high of $69.00. The business has a 50 day moving average price of $64.86 and a two-hundred day moving average price of $64.61. The stock has a market cap of $12.35 billion, a PE ratio of 30.59, a P/E/G ratio of 3.71 and a beta of 0.64.

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

Equity Lifestyle Properties Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ELS shares. Morgan Stanley reiterated a "mixed" rating and set a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Truist Financial set a $67.00 target price on shares of Equity Lifestyle Properties and gave the company a "hold" rating in a report on Tuesday, May 5th. Wells Fargo & Company decreased their price target on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating for the company in a research report on Monday, June 1st. Odeon Capital Group set a $65.00 price target on Equity Lifestyle Properties in a report on Thursday, July 9th. Finally, Barclays set a $69.00 price objective on Equity Lifestyle Properties and gave the company an "equal weight" rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $68.52.

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.

Want to see what other hedge funds are holding ELS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report).

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