Vestcor Inc Increases Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Vestcor Inc boosted its stake in Equity Lifestyle Properties by 1,179.4% in the fourth quarter, ending with 53,531 shares valued at about $3.25 million.
• Wall Street’s view on ELS is mixed but generally constructive: the stock carries a Moderate Buy consensus with a $69.20 average price target, though recent analyst actions included a ratings upgrade from Zacks and a few cautious or neutral calls.
• Equity Lifestyle Properties recently reported Q1 earnings of $0.56 per share, below expectations, while revenue came in slightly above estimates; the company also announced a quarterly dividend of $0.5425 per share, implying a 3.5% yield.

Vestcor Inc increased its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 1,179.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,531 shares of the real estate investment trust's stock after acquiring an additional 49,347 shares during the quarter. Vestcor Inc's holdings in Equity Lifestyle Properties were worth $3,245,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GoalVest Advisory LLC purchased a new stake in Equity Lifestyle Properties during the 4th quarter worth approximately $25,000. Wiser Advisor Group LLC acquired a new position in shares of Equity Lifestyle Properties in the 3rd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Equity Lifestyle Properties by 943.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 453 shares during the last quarter. Clearstead Trust LLC grew its position in shares of Equity Lifestyle Properties by 74.8% during the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust's stock worth $33,000 after buying an additional 231 shares in the last quarter. Finally, Fulcrum Asset Management LLP acquired a new stake in shares of Equity Lifestyle Properties during the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 97.21% of the company's stock.

Analysts Set New Price Targets

ELS has been the topic of several recent analyst reports. Zacks Research raised shares of Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. Wells Fargo & Company cut 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 note on Monday, June 1st. Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the company a "hold" rating in a report on Tuesday, May 5th. Zelman & Associates initiated coverage on Equity Lifestyle Properties in a report on Monday, March 16th. They set an "underperform" rating and a $59.25 target price on the stock. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $75.00 target price (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Equity Lifestyle Properties has a consensus rating of "Moderate Buy" and a consensus price target of $69.20.

Insiders Place Their Bets

In other Equity Lifestyle Properties news, Director David J. Contis sold 3,000 shares of the firm's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total value of $201,660.00. Following the sale, the director directly owned 14,890 shares in the company, valued at approximately $1,000,905.80. This trade represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.80% of the stock is owned by corporate insiders.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS opened at $62.41 on Friday. The company has a market cap of $12.10 billion, a PE ratio of 31.21, a P/E/G ratio of 3.80 and a beta of 0.67. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $69.00. The firm has a 50-day simple moving average of $63.11 and a 200 day simple moving average of $63.56. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29.

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 business had revenue of $397.62 million during 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%.The business's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. On average, sell-side analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a $0.5425 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.17 annualized dividend and a yield of 3.5%. Equity Lifestyle Properties's dividend payout ratio (DPR) is currently 108.50%.

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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