Public Employees Retirement System of Ohio Invests $18.17 Million in Equity Lifestyle Properties, Inc. $ELS

Public Employees Retirement System of Ohio bought a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 281,901 shares of the real estate investment trust’s stock, valued at approximately $18,169,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Empowered Funds LLC boosted its holdings in shares of Equity Lifestyle Properties by 14.1% during the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock worth $435,000 after purchasing an additional 804 shares during the last quarter. Jane Street Group LLC raised its holdings in Equity Lifestyle Properties by 598.5% in the 1st quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock valued at $7,964,000 after buying an additional 102,303 shares during the period. Intech Investment Management LLC increased its holdings in Equity Lifestyle Properties by 62.3% in the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust’s stock valued at $1,542,000 after purchasing an additional 8,873 shares during the last quarter. Cetera Investment Advisers lifted its stake in Equity Lifestyle Properties by 111.0% during the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 5,325 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Equity Lifestyle Properties in the second quarter valued at approximately $300,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Stock Down 0.4%

Shares of NYSE:ELS opened at $63.63 on Friday. Equity Lifestyle Properties, Inc. has a 52-week low of $58.72 and a 52-week high of $69.00. The company has a market capitalization of $12.35 billion, a P/E ratio of 30.59, a P/E/G ratio of 3.71 and a beta of 0.64. The stock’s fifty day simple moving average is $64.86 and its 200-day simple moving average is $64.62. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.22). The firm had revenue of $397.81 million for the quarter, compared to analysts’ expectations of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. As a group, equities research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

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

Analysts Set New Price Targets

ELS has been the subject of several analyst reports. Odeon Capital Group set a $65.00 target price on Equity Lifestyle Properties in a research note on Thursday, July 9th. Truist Financial set a $67.00 target price on Equity Lifestyle Properties and gave the company a “hold” rating in a research report on Tuesday, May 5th. Morgan Stanley reissued a “mixed” rating and set a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. Wells Fargo & Company lowered their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Finally, Jefferies Financial Group upgraded shares of Equity Lifestyle Properties to a “strong-buy” rating in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.52.

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.