Tiemann Investment Advisors LLC Purchases Shares of 10,662 Equity Lifestyle Properties, Inc. $ELS

Tiemann Investment Advisors LLC purchased a new position in Equity Lifestyle Properties, Inc. (NYSE:ELS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,662 shares of the real estate investment trust’s stock, valued at approximately $687,000.

A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Equity Lifestyle Properties during the second quarter worth about $1,576,449,000. Price T Rowe Associates Inc. MD increased its holdings in Equity Lifestyle Properties by 303.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock valued at $966,648,000 after purchasing an additional 11,999,874 shares during the period. Daiwa Securities Group Inc. increased its holdings in Equity Lifestyle Properties by 253.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock valued at $191,025,000 after purchasing an additional 2,257,299 shares during the period. Cohen & Steers Inc. increased its position in Equity Lifestyle Properties by 26.8% during the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock valued at $643,331,000 after purchasing an additional 2,246,622 shares during the period. Finally, Norges Bank bought a new position in Equity Lifestyle Properties in the fourth quarter worth about $125,352,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays set a $69.00 price target on shares of Equity Lifestyle Properties and gave the company an “equal weight” rating in a report on Monday. 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. Robert W. Baird lifted their target price on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Morgan Stanley restated a “mixed” rating and issued a $59.00 price target (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Finally, Truist Financial set a $67.00 price target on Equity Lifestyle Properties and gave the company a “hold” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Equity Lifestyle Properties has an average rating of “Moderate Buy” and an average price target of $68.52.

Equity Lifestyle Properties Stock Performance

ELS opened at $64.91 on Tuesday. The company’s 50 day moving average is $64.62 and its 200 day moving average is $64.57. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 3.82 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a 12-month low of $58.72 and a 12-month high of $69.00.

Equity Lifestyle Properties (NYSE:ELS) last announced its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 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 business had revenue of $397.81 million for the quarter, compared to analysts’ expectations of $383.66 million. During the same period in the prior year, the company posted $0.69 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Announces Dividend

The business 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 $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 104.33%.

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.