Oppenheimer & Co. Inc. acquired a new stake in Equity Lifestyle Properties Inc. (NYSE:ELS) during the second quarter, Holdings Channel reports. The firm acquired 2,520 shares of the company’s stock, valued at approximately $202,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ELS. Norges Bank bought a new position in shares of Equity Lifestyle Properties during the fourth quarter valued at $43,997,000. Emerald Acquisition Ltd. bought a new position in shares of Equity Lifestyle Properties during the second quarter valued at $39,591,000. NN Investment Partners Holdings N.V. bought a new position in shares of Equity Lifestyle Properties during the first quarter valued at $33,005,000. Goldman Sachs Group Inc. raised its position in shares of Equity Lifestyle Properties by 25.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,556,487 shares of the company’s stock valued at $113,204,000 after buying an additional 311,786 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Equity Lifestyle Properties during the second quarter valued at $12,984,000. 94.83% of the stock is owned by institutional investors.
Equity Lifestyle Properties Inc. (NYSE:ELS) traded up 0.49% on Friday, hitting $79.95. 306,670 shares of the stock were exchanged. Equity Lifestyle Properties Inc. has a 1-year low of $56.58 and a 1-year high of $83.19. The stock has a market cap of $6.82 billion, a PE ratio of 43.15 and a beta of 0.48. The company’s 50 day moving average is $78.52 and its 200 day moving average is $75.38.
Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results on Monday, July 18th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.01. The firm earned $210.10 million during the quarter, compared to analysts’ expectations of $114.76 million. Equity Lifestyle Properties had a net margin of 21.01% and a return on equity of 20.11%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. On average, equities research analysts expect that Equity Lifestyle Properties Inc. will post $3.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, September 28th. Equity Lifestyle Properties’s payout ratio is 91.40%.
ELS has been the subject of several recent analyst reports. BMO Capital Markets reissued a “hold” rating and set a $77.00 price objective on shares of Equity Lifestyle Properties in a report on Thursday, July 28th. Citigroup Inc. raised their price objective on shares of Equity Lifestyle Properties from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Finally, Cantor Fitzgerald reissued a “hold” rating on shares of Equity Lifestyle Properties in a report on Saturday, June 4th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price 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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