Great Lakes Advisors LLC Invests $2.23 Million in Equity Lifestyle Properties, Inc. $ELS

Great Lakes Advisors LLC acquired a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, Holdings Channel.com reports. The firm acquired 34,563 shares of the real estate investment trust’s stock, valued at approximately $2,228,000.

Several other hedge funds also recently bought and sold shares of ELS. Wiser Advisor Group LLC bought a new position in Equity Lifestyle Properties in the 3rd quarter valued at $25,000. Caitong International Asset Management Co. Ltd increased its holdings 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 worth $30,000 after purchasing an additional 453 shares during the period. Clearstead Trust LLC bought a new position in shares of Equity Lifestyle Properties in the second quarter worth $33,000. Fulcrum Asset Management LLP purchased a new stake in shares of Equity Lifestyle Properties in the third quarter worth $34,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Equity Lifestyle Properties by 67.3% in the first quarter. EverSource Wealth Advisors LLC now owns 726 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Equity Lifestyle Properties Trading Up 0.1%

Shares of ELS stock opened at $65.48 on Friday. The business has a 50-day moving average of $64.71 and a 200 day moving average of $64.63. 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 $12.71 billion, a PE ratio of 31.48, a P/E/G ratio of 3.81 and a beta of 0.64.

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

Equity Lifestyle Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be given 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 3.3%. Equity Lifestyle Properties’s dividend payout ratio is presently 104.33%.

Wall Street Analysts Forecast Growth

ELS has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Barclays set a $69.00 price target 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 objective 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. Finally, Morgan Stanley reiterated a “mixed” rating and set a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Equity Lifestyle Properties presently has a consensus 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.