Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) during the first quarter, according to its most recent filing with the SEC. The institutional investor bought 2,881 shares of the real estate investment trust’s stock, valued at approximately $222,000.
Other large investors have also recently modified their holdings of the company. State Street Corp increased its stake in shares of Equity Lifestyle Properties by 0.6% in the fourth quarter. State Street Corp now owns 2,515,322 shares of the real estate investment trust’s stock valued at $181,347,000 after buying an additional 15,624 shares during the last quarter. Resolution Capital Ltd increased its stake in shares of Equity Lifestyle Properties by 19.4% in the first quarter. Resolution Capital Ltd now owns 1,388,534 shares of the real estate investment trust’s stock valued at $107,000,000 after buying an additional 226,050 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Equity Lifestyle Properties by 21.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,269,800 shares of the real estate investment trust’s stock valued at $91,553,000 after buying an additional 228,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Equity Lifestyle Properties by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,056,950 shares of the real estate investment trust’s stock valued at $76,204,000 after buying an additional 6,562 shares in the last quarter. Finally, Chai Trust Co. LLC bought a new stake in shares of Equity Lifestyle Properties during the fourth quarter valued at about $67,742,000. 93.40% of the stock is owned by hedge funds and other institutional investors.
Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) traded down 0.24% on Friday, reaching $83.54. 363,830 shares of the company traded hands. The firm has a 50-day moving average price of $80.70 and a 200 day moving average price of $75.31. The company has a market capitalization of $7.25 billion, a PE ratio of 42.19 and a beta of 0.33. Equity Lifestyle Properties, Inc. has a one year low of $65.87 and a one year high of $84.68.
Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, April 17th. The real estate investment trust reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.02. Equity Lifestyle Properties had a net margin of 21.50% and a return on equity of 20.43%. The business had revenue of $232.40 million during the quarter, compared to analyst estimates of $218.28 million. During the same quarter in the previous year, the business posted $0.92 EPS. Equity Lifestyle Properties’s quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts forecast that Equity Lifestyle Properties, Inc. will post $2.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a $0.4875 dividend. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Wednesday, June 28th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 88.08%.
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ELS has been the subject of several research reports. Evercore ISI increased their price objective on shares of Equity Lifestyle Properties from $74.00 to $77.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 18th. TheStreet upgraded shares of Equity Lifestyle Properties from a “c+” rating to a “b” rating in a report on Monday, April 17th. Cantor Fitzgerald increased their target price on shares of Equity Lifestyle Properties from $73.00 to $73.50 and gave the stock a “neutral” rating in a report on Friday, January 27th. Finally, Zacks Investment Research upgraded shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Wednesday, January 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $78.25.
In related news, Vice Chairman Howard Walker sold 1,608 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $82.11, for a total value of $132,032.88. Following the transaction, the insider now directly owns 57,265 shares of the company’s stock, valued at approximately $4,702,029.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.90% of the stock is currently owned by insiders.
Equity Lifestyle Properties Company Profile
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an 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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