Summit Securities Group LLC Acquires New Position in Equity Lifestyle Properties, Inc. (ELS)

Summit Securities Group LLC acquired a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,000 shares of the real estate investment trust’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Martingale Asset Management L P raised its stake in Equity Lifestyle Properties by 4.8% during the 1st quarter. Martingale Asset Management L P now owns 384,982 shares of the real estate investment trust’s stock valued at $44,005,000 after acquiring an additional 17,594 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Equity Lifestyle Properties during the 1st quarter valued at $58,000. Great West Life Assurance Co. Can raised its stake in Equity Lifestyle Properties by 1.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 74,309 shares of the real estate investment trust’s stock valued at $8,489,000 after acquiring an additional 818 shares in the last quarter. New York State Common Retirement Fund raised its stake in Equity Lifestyle Properties by 16.3% during the 1st quarter. New York State Common Retirement Fund now owns 196,700 shares of the real estate investment trust’s stock valued at $22,483,000 after acquiring an additional 27,600 shares in the last quarter. Finally, Raymond James & Associates bought a new stake in Equity Lifestyle Properties during the 1st quarter valued at $299,000. Hedge funds and other institutional investors own 94.16% of the company’s stock.

Shares of ELS traded up $0.15 during midday trading on Friday, reaching $120.30. The stock had a trading volume of 5,568 shares, compared to its average volume of 389,544. Equity Lifestyle Properties, Inc. has a 52 week low of $87.52 and a 52 week high of $120.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market capitalization of $10.64 billion, a PE ratio of 31.09, a P/E/G ratio of 3.87 and a beta of 0.34.

Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, April 22nd. The real estate investment trust reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.02. Equity Lifestyle Properties had a return on equity of 22.97% and a net margin of 27.24%. The company had revenue of $259.00 million for the quarter, compared to the consensus estimate of $251.72 million. During the same quarter in the previous year, the business earned $1.04 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Equity Lifestyle Properties, Inc. will post 4.18 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, June 27th. Equity Lifestyle Properties’s dividend payout ratio is presently 63.31%.

Several analysts have weighed in on the company. Zacks Investment Research raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research note on Wednesday, April 3rd. Wells Fargo & Co downgraded Equity Lifestyle Properties from an “outperform” rating to a “market perform” rating and set a $112.00 target price on the stock. in a research note on Tuesday, March 26th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $120.00 target price on shares of Equity Lifestyle Properties in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $110.42.

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About Equity Lifestyle Properties

We are a self-administered, self-managed real estate investment trust (“REIT”) with headquarters in Chicago. As of January 28, 2019, we own or have an interest in 409 quality properties in 33 states and British Columbia consisting of 153,984 sites.

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Institutional Ownership by Quarter for Equity Lifestyle Properties (NYSE:ELS)

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