Great Lakes Advisors LLC Invests $15.67 Million in Equity Lifestyle Properties, Inc. $ELS

Great Lakes Advisors LLC bought a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) during the second quarter, Holdings Channel reports. The fund bought 243,110 shares of the real estate investment trust’s stock, valued at approximately $15,668,000.

A number of other institutional investors have also recently added to or reduced their stakes in ELS. Wiser Advisor Group LLC purchased a new stake in Equity Lifestyle Properties in the 3rd quarter worth $25,000. Caitong International Asset Management Co. Ltd grew its position in shares of Equity Lifestyle Properties by 943.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 453 shares during the period. Clearstead Trust LLC acquired a new stake in shares of Equity Lifestyle Properties in the second quarter valued at about $33,000. Fulcrum Asset Management LLP purchased a new stake in shares of Equity Lifestyle Properties during the third quarter worth about $34,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Equity Lifestyle Properties by 67.3% during the first quarter. EverSource Wealth Advisors LLC now owns 726 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 292 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

ELS has been the topic of a number of research reports. Wells Fargo & Company decreased their price target on shares of 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. Truist Financial set a $67.00 target price on Equity Lifestyle Properties and gave the company a “hold” rating in a report on Tuesday, May 5th. 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. Odeon Capital Group set a $65.00 price target on Equity Lifestyle Properties in a research note on Thursday, July 9th. Finally, Robert W. Baird boosted their price target on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Equity Lifestyle Properties has a consensus rating of “Moderate Buy” and an average price target of $68.52.

Equity Lifestyle Properties Stock Performance

NYSE:ELS opened at $64.57 on Wednesday. The company has a market cap of $12.53 billion, a P/E ratio of 31.04, a P/E/G ratio of 3.82 and a beta of 0.64. 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 price is $64.64 and its 200-day moving average price is $64.58. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31.

Equity Lifestyle Properties (NYSE:ELS) last issued 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). The company had revenue of $397.81 million for the quarter, compared to analyst estimates of $383.66 million. Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, sell-side analysts forecast that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be paid a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a yield of 3.4%. Equity Lifestyle Properties’s payout ratio is 104.33%.

About Equity Lifestyle Properties

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.