Franklin Resources Inc. Increases Stake in Equity Lifestyle Properties, Inc. $ELS

Franklin Resources Inc. increased its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 778,336 shares of the real estate investment trust’s stock after purchasing an additional 5,763 shares during the quarter. Franklin Resources Inc.’s holdings in Equity Lifestyle Properties were worth $48,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ELS. Farther Finance Advisors LLC grew its stake in shares of Equity Lifestyle Properties by 12.3% during the second quarter. Farther Finance Advisors LLC now owns 1,620 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 178 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Equity Lifestyle Properties by 10.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,069 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 201 shares during the last quarter. Moran Wealth Management LLC boosted its holdings in Equity Lifestyle Properties by 1.2% during the 2nd quarter. Moran Wealth Management LLC now owns 17,995 shares of the real estate investment trust’s stock valued at $1,110,000 after acquiring an additional 220 shares during the period. Qtron Investments LLC grew its position in Equity Lifestyle Properties by 4.5% during the 1st quarter. Qtron Investments LLC now owns 5,637 shares of the real estate investment trust’s stock worth $376,000 after acquiring an additional 242 shares during the last quarter. Finally, Townsquare Capital LLC increased its stake in Equity Lifestyle Properties by 2.0% in the 1st quarter. Townsquare Capital LLC now owns 12,756 shares of the real estate investment trust’s stock worth $851,000 after purchasing an additional 251 shares during the period. 97.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ELS. Morgan Stanley dropped their price objective on Equity Lifestyle Properties from $67.50 to $62.50 and set an “equal weight” rating for the company in a research note on Thursday, September 4th. Wells Fargo & Company lowered their price target on shares of Equity Lifestyle Properties from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research report on Monday, October 20th. Truist Financial set a $68.00 price target on shares of Equity Lifestyle Properties and gave the stock a “buy” rating in a report on Wednesday, July 30th. Finally, Evercore ISI lowered their price objective on shares of Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating for the company in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.14.

Equity Lifestyle Properties Stock Performance

Shares of ELS stock opened at $62.95 on Wednesday. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 3.32 and a beta of 0.71. The stock has a fifty day moving average of $61.56 and a 200 day moving average of $61.67. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $72.81. The company has a quick ratio of 0.04, a current ratio of 0.05 and a debt-to-equity ratio of 0.27.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Equity Lifestyle Properties had a net margin of 24.97% and a return on equity of 20.99%. The business had revenue of $393.31 million during the quarter, compared to analyst estimates of $389.39 million. During the same period in the prior year, the business earned $0.72 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, December 26th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 103.52%.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.