The Manufacturers Life Insurance Company Purchases New Holdings in Equity Lifestyle Properties, Inc. $ELS

The Manufacturers Life Insurance Company acquired a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 126,532 shares of the real estate investment trust’s stock, valued at approximately $8,155,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Empowered Funds LLC raised its position in shares of Equity Lifestyle Properties by 3.5% in the 4th quarter. Empowered Funds LLC now owns 5,055 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 169 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Equity Lifestyle Properties by 30.3% during the first quarter. Bessemer Group Inc. now owns 735 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 171 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in Equity Lifestyle Properties by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 43,367 shares of the real estate investment trust’s stock valued at $2,628,000 after acquiring an additional 172 shares in the last quarter. Private Advisor Group LLC raised its holdings in Equity Lifestyle Properties by 3.7% in the third quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 178 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Equity Lifestyle Properties by 3.5% during the 1st quarter. Fifth Third Bancorp now owns 5,561 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 189 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ELS shares. Truist Financial set a $67.00 target price on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Barclays set a $69.00 price target on Equity Lifestyle Properties and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Odeon Capital Group set a $65.00 price objective on Equity Lifestyle Properties in a 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 note on Wednesday, August 12th. Finally, Weiss Ratings raised Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.52.

Equity Lifestyle Properties Stock Performance

Shares of NYSE ELS opened at $63.63 on Monday. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $64.86 and its two-hundred day moving average price is $64.61. Equity Lifestyle Properties, Inc. has a 52-week low of $58.72 and a 52-week high of $69.00. The stock has a market capitalization of $12.35 billion, a P/E ratio of 30.59, a P/E/G ratio of 3.71 and a beta of 0.64.

Equity Lifestyle Properties (NYSE:ELS) last posted its 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). The company had revenue of $397.81 million for 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 firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. As a group, sell-side analysts forecast that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be given a $0.5425 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.17 annualized dividend and a yield of 3.4%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 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.