Connor Clark & Lunn Investment Management Ltd. Acquires New Holdings in Equity Lifestyle Properties, Inc. $ELS

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 230,373 shares of the real estate investment trust’s stock, valued at approximately $14,848,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in shares of Equity Lifestyle Properties by 14.1% during the first 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 in the last quarter. Jane Street Group LLC grew its holdings 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 worth $7,964,000 after purchasing an additional 102,303 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Equity Lifestyle Properties by 62.3% in 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 buying an additional 8,873 shares during the period. Cetera Investment Advisers increased its stake in shares of Equity Lifestyle Properties by 111.0% in 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 2nd quarter valued at approximately $300,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity Lifestyle Properties Price Performance

Shares of ELS opened at $65.41 on Wednesday. Equity Lifestyle Properties, Inc. has a 1 year low of $58.72 and a 1 year high of $69.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02. The company has a market capitalization of $12.69 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 3.83 and a beta of 0.64. The business has a 50-day moving average of $64.77 and a 200-day moving average of $64.65.

Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings data 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). Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The company had revenue of $397.81 million during the quarter, compared to analyst estimates of $383.66 million. During the same period in the prior year, the firm earned $0.69 earnings per share. Equity Lifestyle Properties’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be given a $0.5425 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.3%. Equity Lifestyle Properties’s payout ratio is 104.33%.

Wall Street Analysts Forecast Growth

ELS has been the topic of several recent research reports. Truist Financial set a $67.00 target price on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Odeon Capital Group set a $65.00 price target on shares of Equity Lifestyle Properties in a research report on Thursday, July 9th. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley reiterated a “mixed” rating and set a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.