Mitsubishi UFJ Asset Management Co. Ltd. Invests $10.69 Million in Equity Lifestyle Properties, Inc. $ELS

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 165,912 shares of the real estate investment trust’s stock, valued at approximately $10,693,000.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in Equity Lifestyle Properties by 303.9% in 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 buying an additional 11,999,874 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of 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 worth $191,025,000 after buying an additional 2,257,299 shares in the last quarter. Cohen & Steers Inc. lifted its stake in shares of Equity Lifestyle Properties by 26.8% in the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock worth $643,331,000 after acquiring an additional 2,246,622 shares during the period. Norges Bank acquired a new stake in shares of Equity Lifestyle Properties in the 4th quarter worth approximately $125,352,000. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of Equity Lifestyle Properties by 1,520.4% in the second quarter. Royal London Asset Management Ltd. now owns 1,771,803 shares of the real estate investment trust’s stock valued at $109,267,000 after acquiring an additional 1,662,458 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity Lifestyle Properties Price Performance

Shares of ELS opened at $65.49 on Friday. The business’s 50-day moving average is $64.70 and its 200-day moving average is $64.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 3.83 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.72 and a fifty-two week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS 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 for the quarter, compared to analysts’ expectations of $383.66 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current fiscal 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 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties’s payout ratio is 104.33%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price objective 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. Truist Financial set a $67.00 target price on Equity Lifestyle Properties and gave the stock a “hold” rating in a report on Tuesday, May 5th. Odeon Capital Group set a $65.00 price target on shares of Equity Lifestyle Properties in a research report on Thursday, July 9th. Morgan Stanley restated a “mixed” rating and set a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 14th. One research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.