Greenland Capital Management LP Invests $516,000 in Equity Lifestyle Properties, Inc. $ELS

Greenland Capital Management LP purchased a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,000 shares of the real estate investment trust’s stock, valued at approximately $516,000.

Other large investors have also added to or reduced their stakes in the company. Wiser Advisor Group LLC purchased a new stake in shares of Equity Lifestyle Properties during the 3rd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd raised its stake in Equity Lifestyle Properties by 943.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 453 shares in the last quarter. Clearstead Trust LLC bought a new position in Equity Lifestyle Properties during the second quarter valued at $33,000. Fulcrum Asset Management LLP purchased a new position in shares of Equity Lifestyle Properties in the 3rd quarter worth $34,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Equity Lifestyle Properties in the 2nd quarter worth about $37,000. Institutional investors own 97.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ELS. Truist Financial set a $67.00 price target on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a report on Tuesday, May 5th. Barclays set a $69.00 price objective on Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research note on Monday, August 17th. 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. Weiss Ratings raised Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 14th. 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 report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.52.

Equity Lifestyle Properties Stock Performance

Equity Lifestyle Properties stock opened at $65.48 on Friday. 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 firm has a market capitalization of $12.71 billion, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 3.81 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a 1-year low of $58.72 and a 1-year high of $69.00. The company’s 50-day moving average is $64.71 and its 200 day moving average is $64.63.

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

Equity Lifestyle Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be paid a $0.5425 dividend. The ex-dividend date 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 (DPR) is presently 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.