Equity Lifestyle Properties, Inc. $ELS Shares Acquired by Royal Bank of Canada

Royal Bank of Canada boosted its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 9.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 560,685 shares of the real estate investment trust’s stock after purchasing an additional 47,608 shares during the period. Royal Bank of Canada’s holdings in Equity Lifestyle Properties were worth $34,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its holdings 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 acquiring an additional 804 shares during the period. Jane Street Group LLC increased its holdings in shares of Equity Lifestyle Properties by 598.5% in the 1st quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock worth $7,964,000 after acquiring an additional 102,303 shares during the period. Intech Investment Management LLC lifted its position in Equity Lifestyle Properties by 62.3% in the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust’s stock valued at $1,542,000 after purchasing an additional 8,873 shares during the last quarter. Cetera Investment Advisers lifted its position in Equity Lifestyle Properties by 111.0% in the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust’s stock valued at $624,000 after purchasing an additional 5,325 shares during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in Equity Lifestyle Properties during the 2nd quarter valued at about $300,000. 97.21% of the stock is currently owned by institutional investors.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS opened at $65.72 on Tuesday. The stock has a market cap of $12.75 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 3.96 and a beta of 0.64. 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 12 month low of $58.72 and a 12 month high of $69.00. The stock’s 50 day moving average price is $64.03 and its 200 day moving average price is $64.44.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $397.81 million for the quarter, compared to the consensus estimate of $383.66 million. During the same period in the previous year, the business posted $0.69 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be paid 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 yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 104.33%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays restated an “equal weight” rating and issued a $68.00 price target on shares of Equity Lifestyle Properties in a research note on Tuesday, July 14th. Wall Street Zen upgraded Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Robert W. Baird increased their price objective on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Odeon Capital Group set a $65.00 target price on Equity Lifestyle Properties in a research report on Thursday, July 9th. Finally, Wells Fargo & Company cut 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 investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Equity Lifestyle Properties has a consensus rating of “Hold” and an average price target of $68.70.

Equity Lifestyle Properties 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.