1,085,156 Shares in Equity Lifestyle Properties, Inc. $ELS Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,085,156 shares of the real estate investment trust’s stock, valued at approximately $69,938,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new stake in Equity Lifestyle Properties during the 2nd quarter worth $8,155,000. Van Hulzen Asset Management LLC acquired a new stake in shares of Equity Lifestyle Properties in the second quarter valued at about $709,000. Algert Global LLC acquired a new stake in shares of Equity Lifestyle Properties in the second quarter valued at about $5,597,000. Cibc World Market Inc. purchased a new position in shares of Equity Lifestyle Properties in the second quarter worth about $2,284,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Equity Lifestyle Properties in the second quarter worth about $1,187,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELS. Odeon Capital Group set a $65.00 price objective on shares of Equity Lifestyle Properties in a research note on Thursday, July 9th. Morgan Stanley reissued a “mixed” rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 14th. Finally, Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research report on Wednesday, July 22nd. One equities 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.52.

Equity Lifestyle Properties Trading Down 1.2%

ELS opened at $63.89 on Friday. The stock has a market capitalization of $12.40 billion, a PE ratio of 30.72, a P/E/G ratio of 3.77 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a one year low of $58.72 and a one year high of $69.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.02 and a current ratio of 0.02. The business’s 50 day moving average price is $64.83 and its 200 day moving average price is $64.62.

Equity Lifestyle Properties (NYSE:ELS) 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 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 business had revenue of $397.81 million for the quarter, compared to analyst estimates of $383.66 million. During the same period last year, the business earned $0.69 EPS. Equity Lifestyle Properties’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be given a $0.5425 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a yield of 3.4%. Equity Lifestyle Properties’s dividend payout ratio is presently 104.33%.

Equity Lifestyle Properties 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.