8,301 Shares in Equity Lifestyle Properties, Inc. $ELS Purchased by Commerce Bank

Commerce Bank bought a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) during the second quarter, HoldingsChannel reports. The fund bought 8,301 shares of the real estate investment trust’s stock, valued at approximately $535,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Equity Lifestyle Properties by 11.5% during 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 acquiring an additional 34,946 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Equity Lifestyle Properties by 1,104.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 673,072 shares of the real estate investment trust’s stock valued at $40,794,000 after acquiring an additional 617,202 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Equity Lifestyle Properties by 13.4% in the fourth quarter. Legal & General Group Plc now owns 1,365,902 shares of the real estate investment trust’s stock worth $82,787,000 after acquiring an additional 161,210 shares during the period. BROOKFIELD Corp ON acquired a new stake in shares of Equity Lifestyle Properties in the first quarter worth $19,429,000. Finally, Resolution Capital Ltd raised its holdings 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 during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity Lifestyle Properties Price Performance

Shares of NYSE ELS opened at $63.89 on Friday. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 3.77 and a beta of 0.64. Equity Lifestyle Properties, Inc. has a 12 month low of $58.72 and a 12 month high of $69.00. The firm’s 50 day simple moving average is $64.83 and its 200-day simple 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.

Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results 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). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm had revenue of $397.81 million for the quarter, compared to analysts’ expectations of $383.66 million. During the same period last year, the firm earned $0.69 earnings per share. Equity Lifestyle Properties’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts expect that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Announces Dividend

The company also recently disclosed 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 is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.4%. Equity Lifestyle Properties’s dividend payout ratio is 104.33%.

Analyst Ratings Changes

A number of research firms recently issued reports on ELS. 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. Truist Financial set a $67.00 price target on Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Morgan Stanley reiterated 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. Wells Fargo & Company decreased their price objective on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. 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 assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Equity Lifestyle Properties currently has an average 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.