VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $17.78 Million Investment in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Virginia Retirement Systems purchased 275,847 shares of Equity Lifestyle Properties worth approximately $17.78 million, giving it a 0.14% stake. Institutional investors and hedge funds collectively own 97.21% of ELS.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $68.52, compared with its reported opening price of $62.37.
• ELS reported quarterly revenue of $397.81 million, up 5.5% year over year, but earnings of $0.50 per share fell short of the $0.72 consensus estimate. The company declared a quarterly dividend of $0.5425 per share, representing a 3.5% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 275,847 shares of the real estate investment trust's stock, valued at approximately $17,778,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.14% of Equity Lifestyle Properties as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ELS. Thrivent Financial for Lutherans boosted its position in shares of Equity Lifestyle Properties by 1,104.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 673,072 shares of the real estate investment trust's stock valued at $40,794,000 after purchasing an additional 617,202 shares during the period. Legal & General Group Plc increased its stake in Equity Lifestyle Properties by 13.4% in the 4th quarter. Legal & General Group Plc now owns 1,365,902 shares of the real estate investment trust's stock worth $82,787,000 after purchasing an additional 161,210 shares in the last quarter. BROOKFIELD Corp ON acquired a new stake in Equity Lifestyle Properties during the 1st quarter worth about $19,429,000. Resolution Capital Ltd raised its holdings in Equity Lifestyle Properties by 3.3% during the 1st quarter. Resolution Capital Ltd now owns 1,885,292 shares of the real estate investment trust's stock worth $117,680,000 after buying an additional 59,809 shares during the period. Finally, Corient Private Wealth LP purchased a new stake in Equity Lifestyle Properties during the second quarter valued at about $2,549,000. Institutional investors and hedge funds own 97.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ELS. Odeon Capital Group set a $65.00 target price on shares of Equity Lifestyle Properties in a research report on Thursday, July 9th. Morgan Stanley reaffirmed a "mixed" rating and issued a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of Equity Lifestyle Properties from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 14th. 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. Finally, Jefferies Financial Group upgraded Equity Lifestyle Properties to a "strong-buy" rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.52.

Equity Lifestyle Properties Price Performance

Shares of ELS opened at $62.37 on Tuesday. The business's 50-day moving average is $64.81 and its 200-day moving average is $64.43. 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 company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 29.99, a P/E/G ratio of 3.64 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.72 and a fifty-two week high of $69.00.

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

Equity Lifestyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties's payout ratio is currently 104.33%.

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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