Equity Lifestyle Properties Inc. (ELS) Position Increased by Principal Financial Group Inc.
Principal Financial Group Inc. raised its stake in shares of Equity Lifestyle Properties Inc. (NYSE:ELS) by 7.1% during the second quarter, Holdings Channel reports. The institutional investor owned 225,126 shares of the company’s stock after buying an additional 14,967 shares during the period. Principal Financial Group Inc. owned 0.26% of Equity Lifestyle Properties worth $18,021,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Checchi Capital Advisers LLC increased its stake in shares of Equity Lifestyle Properties by 90.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,799 shares of the company’s stock valued at $144,000 after buying an additional 856 shares in the last quarter. First Midwest Bank Trust Division acquired a new stake in shares of Equity Lifestyle Properties during the second quarter valued at approximately $200,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Equity Lifestyle Properties during the second quarter valued at approximately $202,000. New York State Teachers Retirement System increased its stake in shares of Equity Lifestyle Properties by 30.0% in the second quarter. New York State Teachers Retirement System now owns 2,600 shares of the company’s stock valued at $208,000 after buying an additional 600 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Equity Lifestyle Properties by 1.3% in the second quarter. Janney Montgomery Scott LLC now owns 3,164 shares of the company’s stock valued at $211,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.
Shares of Equity Lifestyle Properties Inc. (NYSE:ELS) traded down 0.40% during trading on Tuesday, reaching $75.25. The company had a trading volume of 52,520 shares. Equity Lifestyle Properties Inc. has a 1-year low of $57.71 and a 1-year high of $83.19. The company’s 50 day moving average is $78.10 and its 200-day moving average is $75.68. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 40.61 and a beta of 0.40.
Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, July 18th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company earned $210.10 million during the quarter, compared to the consensus estimate of $114.76 million. Equity Lifestyle Properties had a net margin of 21.01% and a return on equity of 20.11%. Equity Lifestyle Properties’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, equities research analysts anticipate that Equity Lifestyle Properties Inc. will post $3.30 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Wednesday, September 28th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 91.40%.
ELS has been the topic of several recent analyst reports. BMO Capital Markets reiterated a “hold” rating and set a $77.00 target price on shares of Equity Lifestyle Properties in a research note on Thursday, July 28th. Citigroup Inc. increased their target price on Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Equity Lifestyle Properties currently has an average rating of “Hold” and an average target price of C$71.25.
About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust. The Company is an integrated owner and operator of lifestyle-oriented properties (Properties) consisting primarily of manufactured home (MH) communities, and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations, and Home Sales and Rentals Operations.
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