Sanctuary Advisors LLC Makes New Investment in Equity Lifestyle Properties, Inc. $ELS

Sanctuary Advisors LLC purchased a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,425 shares of the real estate investment trust’s stock, valued at approximately $1,187,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Equity Lifestyle Properties by 11.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 337,948 shares of the real estate investment trust’s stock valued at $20,206,000 after purchasing an additional 34,946 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Equity Lifestyle Properties by 1,104.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 673,072 shares of the real estate investment trust’s stock worth $40,794,000 after purchasing an additional 617,202 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Equity Lifestyle Properties by 13.4% during the 4th quarter. Legal & General Group Plc now owns 1,365,902 shares of the real estate investment trust’s stock worth $82,787,000 after purchasing an additional 161,210 shares during the last quarter. Resolution Capital Ltd grew its stake in shares of Equity Lifestyle Properties by 3.3% during the first quarter. Resolution Capital Ltd now owns 1,885,292 shares of the real estate investment trust’s stock worth $117,680,000 after purchasing an additional 59,809 shares in the last quarter. Finally, BROOKFIELD Corp ON acquired a new position in shares of Equity Lifestyle Properties during the first quarter worth $19,429,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. 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. Wells Fargo & Company lowered their price objective on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Weiss Ratings upgraded Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 14th. Truist Financial set a $67.00 target price on Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Finally, Odeon Capital Group set a $65.00 target price on Equity Lifestyle Properties in a research note on Thursday, July 9th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, Equity Lifestyle Properties has a consensus rating of “Moderate Buy” and a consensus price target of $68.52.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS opened at $63.89 on Friday. Equity Lifestyle Properties, Inc. has a 12 month low of $58.72 and a 12 month high of $69.00. The firm has a market capitalization of $12.40 billion, a P/E ratio of 30.72, a P/E/G ratio of 3.77 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. The company’s fifty day moving average price is $64.83 and its 200 day moving average price is $64.62.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings data 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). The company had revenue of $397.81 million during the quarter, compared to analyst estimates 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 was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. As a group, sell-side analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, September 25th. Equity Lifestyle Properties’s payout ratio is presently 104.33%.

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.