Oppenheimer Asset Management Inc. Invests $848,000 in Equity Lifestyle Properties, Inc. $ELS

Oppenheimer Asset Management Inc. acquired a new position in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, Holdings Channel.com reports. The fund acquired 13,163 shares of the real estate investment trust’s stock, valued at approximately $848,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wiser Advisor Group LLC purchased a new stake in Equity Lifestyle Properties in the third quarter valued at about $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Equity Lifestyle Properties by 943.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 453 shares during the last quarter. Clearstead Trust LLC increased its holdings in shares of Equity Lifestyle Properties by 74.8% during the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 231 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in shares of Equity Lifestyle Properties during the third quarter valued at about $34,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Equity Lifestyle Properties by 67.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 726 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 292 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS opened at $64.91 on Tuesday. Equity Lifestyle Properties, Inc. has a twelve month low of $58.72 and a twelve month high of $69.00. The company’s 50 day moving average is $64.62 and its 200 day moving average is $64.57. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. The company has a market cap of $12.60 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 3.82 and a beta of 0.64.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.22). The business had revenue of $397.81 million for the quarter, compared to analyst estimates of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, sell-side analysts forecast that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

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 issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 104.33%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays set a $69.00 target price on shares of Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research note on Monday. Morgan Stanley reaffirmed a “mixed” rating and issued a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Weiss Ratings upgraded shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Robert W. Baird boosted their price objective on shares of Equity Lifestyle Properties from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company cut 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 report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.52.

Equity Lifestyle Properties Company 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.