William Blair Investment Management LLC Acquires New Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• William Blair Investment Management acquired 270,714 shares of Equity Lifestyle Properties, valued at approximately $17.45 million, giving it a 0.14% stake. Institutional investors and hedge funds collectively own 97.21% of ELS.
• ELS reported quarterly revenue of $397.81 million, up 5.5% year over year and above estimates, but earnings per share of $0.50 missed expectations of $0.72.
• The company declared a quarterly dividend of $0.5425, equivalent to $2.17 annually and a 3.3% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $68.52, compared with a share price of $65.48.

William Blair Investment Management LLC purchased a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 270,714 shares of the real estate investment trust's stock, valued at approximately $17,448,000. William Blair Investment Management LLC owned approximately 0.14% of Equity Lifestyle Properties at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELS. Wiser Advisor Group LLC acquired a new stake in shares of Equity Lifestyle Properties in the 3rd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd raised its stake in Equity Lifestyle Properties by 943.8% in 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 purchasing an additional 453 shares during the last quarter. Clearstead Trust LLC lifted its stake 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 valued at $33,000 after buying an additional 231 shares during the period. Fulcrum Asset Management LLP purchased a new position in shares of Equity Lifestyle Properties during the 3rd quarter worth $34,000. Finally, EverSource Wealth Advisors LLC lifted its position in Equity Lifestyle Properties by 67.3% during the first quarter. EverSource Wealth Advisors LLC now owns 726 shares of the real estate investment trust's stock worth $45,000 after buying an additional 292 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Price Performance

Shares of ELS opened at $65.48 on Friday. The company has a market cap of $12.71 billion, a P/E ratio of 31.48, a PEG ratio of 3.81 and a beta of 0.64. The stock has a fifty day moving average price of $64.71 and a 200 day moving average price of $64.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02. Equity Lifestyle Properties, Inc. has a 12 month low of $58.72 and a 12 month high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its earnings results 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). The company had revenue of $397.81 million during the quarter, compared to the consensus estimate of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The business's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 earnings per share. On average, research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a $0.5425 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.17 annualized dividend and a yield of 3.3%. Equity Lifestyle Properties's dividend payout ratio (DPR) is currently 104.33%.

Analyst Ratings Changes

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

Equity Lifestyle Properties Company 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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