Quantbot Technologies LP Invests $3 Million in Equity Lifestyle Properties, Inc. $ELS

Quantbot Technologies LP acquired a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 46,618 shares of the real estate investment trust’s stock, valued at approximately $3,005,000.

A number of other hedge funds also recently added to or reduced their stakes in ELS. Empowered Funds LLC increased its position in Equity Lifestyle Properties by 14.1% during the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock valued at $435,000 after purchasing an additional 804 shares during the period. Jane Street Group LLC boosted its stake in shares of Equity Lifestyle Properties by 598.5% during the first quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock valued at $7,964,000 after purchasing an additional 102,303 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Equity Lifestyle Properties by 62.3% during the first quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust’s stock valued at $1,542,000 after purchasing an additional 8,873 shares in the last quarter. Cetera Investment Advisers increased its holdings in Equity Lifestyle Properties by 111.0% during the second quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust’s stock valued at $624,000 after buying an additional 5,325 shares during the period. Finally, Gamco Investors INC. ET AL bought a new position in Equity Lifestyle Properties in the second quarter worth approximately $300,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Trading Up 0.0%

NYSE ELS opened at $65.48 on Monday. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. The firm has a market cap of $12.71 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 3.81 and a beta of 0.64. The company has a 50 day moving average price of $64.71 and a 200 day moving average price of $64.64. Equity Lifestyle Properties, Inc. has a 52 week low of $58.72 and a 52 week high of $69.00.

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

Equity Lifestyle Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders 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 is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio is currently 104.33%.

Analyst Ratings Changes

A number of analysts have weighed in on ELS shares. Wells Fargo & Company lowered their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Morgan Stanley reiterated 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. Jefferies Financial Group raised Equity Lifestyle Properties to a “strong-buy” rating in a research report on Wednesday, July 22nd. Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Equity Lifestyle Properties currently has a consensus rating of “Moderate Buy” and a consensus 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.