23,648 Shares in Equity Lifestyle Properties, Inc. $ELS Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,648 shares of the real estate investment trust’s stock, valued at approximately $1,524,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Empowered Funds LLC increased its position in shares of Equity Lifestyle Properties by 3.5% during the 4th quarter. Empowered Funds LLC now owns 5,055 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 169 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Equity Lifestyle Properties by 30.3% during the 1st quarter. Bessemer Group Inc. now owns 735 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 171 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Equity Lifestyle Properties by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 43,367 shares of the real estate investment trust’s stock worth $2,628,000 after buying an additional 172 shares during the last quarter. Private Advisor Group LLC grew its position in Equity Lifestyle Properties by 3.7% during the third quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 178 shares during the period. Finally, Fifth Third Bancorp grew its position in Equity Lifestyle Properties by 3.5% during the first quarter. Fifth Third Bancorp now owns 5,561 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 189 shares during the period. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Stock Performance

NYSE ELS opened at $63.63 on Friday. The company’s 50 day simple moving average is $64.86 and its two-hundred day simple moving average is $64.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02. Equity Lifestyle Properties, Inc. has a 1 year low of $58.72 and a 1 year high of $69.00. The stock has a market capitalization of $12.35 billion, a PE ratio of 30.59, a P/E/G ratio of 3.71 and a beta of 0.64.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly 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 business had revenue of $397.81 million during 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 business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. Analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.17 annualized dividend and a dividend yield of 3.4%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 104.33%.

Analyst Upgrades and Downgrades

ELS has been the subject of a number of research reports. Morgan Stanley restated a “mixed” rating and set a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Odeon Capital Group set a $65.00 price objective on Equity Lifestyle Properties in a research note on Thursday, July 9th. Jefferies Financial Group raised Equity Lifestyle Properties to a “strong-buy” rating in a report on Wednesday, July 22nd. Weiss Ratings raised Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 14th. Finally, Wells Fargo & Company lowered their target price on 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. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.52.

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.