Financial Advocates Investment Management Purchases New Shares in Equity Lifestyle Properties, Inc. $ELS

Financial Advocates Investment Management acquired 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 SEC. The fund acquired 5,543 shares of the real estate investment trust’s stock, valued at approximately $342,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nuveen LLC bought a new position in shares of Equity Lifestyle Properties in the first quarter valued at about $142,937,000. Cbre Investment Management Listed Real Assets LLC increased its position in Equity Lifestyle Properties by 101.4% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,251,554 shares of the real estate investment trust’s stock valued at $83,479,000 after acquiring an additional 630,065 shares in the last quarter. JPMorgan Chase & Co. increased its position in Equity Lifestyle Properties by 12.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,724,515 shares of the real estate investment trust’s stock valued at $291,363,000 after acquiring an additional 515,063 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Equity Lifestyle Properties by 535.2% in the first quarter. American Century Companies Inc. now owns 369,167 shares of the real estate investment trust’s stock worth $24,623,000 after acquiring an additional 311,053 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Equity Lifestyle Properties during the first quarter worth approximately $20,259,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ELS shares. Weiss Ratings reissued a “hold (c)” rating on shares of Equity Lifestyle Properties in a report on Wednesday, October 8th. Morgan Stanley decreased their price objective on Equity Lifestyle Properties from $67.50 to $62.50 and set an “equal weight” rating on the stock in a research report on Thursday, September 4th. Wells Fargo & Company lowered their target price on Equity Lifestyle Properties from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Jefferies Financial Group upgraded Equity Lifestyle Properties to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Evercore ISI decreased their price target on Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating on the stock in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Equity Lifestyle Properties has an average rating of “Moderate Buy” and an average target price of $70.14.

Equity Lifestyle Properties Stock Performance

ELS stock opened at $62.80 on Friday. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $72.81. The company has a quick ratio of 0.04, a current ratio of 0.05 and a debt-to-equity ratio of 0.27. The company has a market cap of $12.17 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 3.32 and a beta of 0.71. The business’s fifty day moving average is $61.65 and its 200-day moving average is $61.69.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings data on Thursday, October 23rd. The real estate investment trust reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Equity Lifestyle Properties had a return on equity of 20.99% and a net margin of 24.97%.The business had revenue of $393.31 million during the quarter, compared to analysts’ expectations of $389.39 million. During the same period in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, December 26th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 103.52%.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.