Van Hulzen Asset Management LLC Makes New $709,000 Investment in Equity Lifestyle Properties, Inc. $ELS

Van Hulzen Asset Management LLC acquired a new position in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,000 shares of the real estate investment trust’s stock, valued at approximately $709,000.

Several other institutional investors have also recently modified their holdings of ELS. BlackRock Inc. purchased a new position in shares of Equity Lifestyle Properties during the 2nd quarter valued at about $1,576,449,000. Price T Rowe Associates Inc. MD boosted its stake in Equity Lifestyle Properties by 303.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock worth $966,648,000 after buying an additional 11,999,874 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Equity Lifestyle Properties by 253.7% in the third 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. boosted its stake in Equity Lifestyle Properties by 26.8% in the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock worth $643,331,000 after buying an additional 2,246,622 shares in the last quarter. Finally, Norges Bank bought a new position in Equity Lifestyle Properties during the fourth quarter valued at approximately $125,352,000. 97.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ELS shares. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 14th. Truist Financial set a $67.00 target price 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 target price on shares of Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research report on Monday, August 17th. Finally, Odeon Capital Group set a $65.00 price target on shares of Equity Lifestyle Properties in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.52.

Equity Lifestyle Properties Price Performance

ELS opened at $65.74 on Tuesday. 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 stock’s 50 day simple moving average is $64.74 and its 200 day simple moving average is $64.65. The firm has a market cap of $12.76 billion, a price-to-earnings ratio of 31.61, a PEG 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.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.22). The company had revenue of $397.81 million during the quarter, compared to the consensus estimate of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio is currently 104.33%.

Equity Lifestyle Properties Company 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.