Bank of Montreal Can purchased a new stake in shares of Equity Lifestyle Properties Inc. (NYSE:ELS) during the second quarter, Holdings Channel reports. The fund purchased 162,197 shares of the company’s stock, valued at approximately $12,984,000. Bank of Montreal Can owned 0.19% of Equity Lifestyle Properties at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Equity Lifestyle Properties during the fourth quarter valued at $43,997,000. Nisa Investment Advisors L.L.C. boosted its position in Equity Lifestyle Properties by 30.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 8,500 shares of the company’s stock valued at $618,000 after buying an additional 2,000 shares during the period. Virginia Retirement System bought a new position in Equity Lifestyle Properties during the first quarter valued at $2,884,000. BlackRock Inc. boosted its position in Equity Lifestyle Properties by 8.9% in the first quarter. BlackRock Inc. now owns 93,096 shares of the company’s stock valued at $6,771,000 after buying an additional 7,618 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new position in Equity Lifestyle Properties during the first quarter valued at $33,005,000. Institutional investors own 94.83% of the company’s stock.
Shares of Equity Lifestyle Properties Inc. (NYSE:ELS) traded down 1.73% during mid-day trading on Friday, hitting $77.18. 641,454 shares of the stock were exchanged. The stock’s 50 day moving average price is $78.23 and its 200-day moving average price is $75.62. The stock has a market capitalization of $6.58 billion, a P/E ratio of 41.65 and a beta of 0.48. Equity Lifestyle Properties Inc. has a 12-month low of $57.71 and a 12-month high of $83.19.
Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, July 18th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. Equity Lifestyle Properties had a net margin of 21.01% and a return on equity of 20.11%. The firm earned $210.10 million during the quarter, compared to analyst estimates of $114.76 million. During the same quarter last year, the business earned $0.70 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts expect that Equity Lifestyle Properties Inc. will post $3.30 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.70 annualized dividend and a yield of 2.20%. Equity Lifestyle Properties’s payout ratio is 91.40%.
Several research analysts have recently weighed in on ELS shares. Cantor Fitzgerald reiterated a “hold” rating on shares of Equity Lifestyle Properties in a report on Saturday, June 4th. Citigroup Inc. upped their price target on shares of Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $77.00 price target on shares of Equity Lifestyle Properties in a report on Thursday, July 28th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of C$71.25.
Equity Lifestyle Properties Company Profile
Equity LifeStyle Properties, Inc is a real estate investment trust. The Company is an integrated owner and operator of lifestyle-oriented properties (Properties) consisting primarily of manufactured home (MH) communities, and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations, and Home Sales and Rentals Operations.
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