Great Lakes Advisors LLC Purchases Shares of 34,563 Equity Lifestyle Properties, Inc. $ELS

Great Lakes Advisors LLC bought a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,563 shares of the real estate investment trust’s stock, valued at approximately $2,228,000.

A number of other large investors also recently made changes to their positions in ELS. Danske Bank A S bought a new position in shares of Equity Lifestyle Properties during the 2nd quarter worth approximately $64,000. Tiemann Investment Advisors LLC purchased a new position in shares of Equity Lifestyle Properties in the 2nd quarter worth approximately $687,000. BlackRock Inc. bought a new position in shares of Equity Lifestyle Properties in the second quarter valued at approximately $1,576,449,000. Pallas Capital Advisors LLC bought a new position in shares of Equity Lifestyle Properties in the second quarter valued at approximately $316,000. Finally, Deutsche Bank AG purchased a new stake in shares of Equity Lifestyle Properties during the second quarter valued at approximately $6,817,000. 97.21% of the stock is owned by institutional investors.

Equity Lifestyle Properties Trading Up 0.1%

Shares of Equity Lifestyle Properties stock opened at $65.48 on Friday. The stock has a market capitalization of $12.71 billion, a P/E ratio of 31.48, a P/E/G ratio of 3.81 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a 52-week low of $58.72 and a 52-week 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 stock’s 50-day simple moving average is $64.71 and its 200 day simple moving average is $64.63.

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 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 during the quarter, compared to analysts’ expectations of $383.66 million. During the same quarter in the previous year, the business earned $0.69 EPS. Equity Lifestyle Properties’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts anticipate 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 dividend of $0.5425 per share. The ex-dividend date is Friday, September 25th. This represents a $2.17 annualized dividend and a dividend yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio is currently 104.33%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group raised Equity Lifestyle Properties to a “strong-buy” rating in a research report on Wednesday, July 22nd. Barclays set a $69.00 target price on Equity Lifestyle Properties and gave the company an “equal weight” rating in a research report on Monday. Weiss Ratings raised shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 14th. Truist Financial set a $67.00 price target on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a report on Tuesday, May 5th. Finally, Morgan Stanley restated a “mixed” rating and set a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Equity Lifestyle Properties currently has an average rating of “Moderate Buy” and a consensus target price 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.