Louisiana State Employees Retirement System Purchases Shares of 56,200 Equity Lifestyle Properties, Inc. $ELS

Louisiana State Employees Retirement System purchased a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 56,200 shares of the real estate investment trust’s stock, valued at approximately $3,508,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fermata Advisors LLC grew its position in shares of Equity Lifestyle Properties by 471.9% in the fourth quarter. Fermata Advisors LLC now owns 33,933 shares of the real estate investment trust’s stock valued at $2,057,000 after purchasing an additional 28,000 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of 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 worth $20,206,000 after purchasing an additional 34,946 shares during the last quarter. Argosy Lionbridge Management LLC bought a new stake in Equity Lifestyle Properties during the 3rd quarter valued at approximately $3,703,000. Thrivent Financial for Lutherans boosted its stake in 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 valued at $40,794,000 after purchasing an additional 617,202 shares during the period. Finally, Swiss Life Asset Management Ltd grew its holdings in Equity Lifestyle Properties by 232.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 56,617 shares of the real estate investment trust’s stock valued at $3,437,000 after buying an additional 39,580 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELS has been the subject of a number of research analyst reports. Robert W. Baird upped their price target on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Zelman & Associates assumed coverage on shares of Equity Lifestyle Properties in a research report on Monday, March 16th. They set an “underperform” rating and a $59.25 target price on the stock. Barclays cut their target price on shares of Equity Lifestyle Properties from $71.00 to $68.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. 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. Finally, Wells Fargo & Company cut their price objective on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.20.

Equity Lifestyle Properties Stock Performance

Shares of NYSE ELS opened at $64.35 on Friday. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 3.91 and a beta of 0.67. Equity Lifestyle Properties, Inc. has a one year low of $58.15 and a one year high of $69.00. The business has a fifty day simple moving average of $63.02 and a 200 day simple moving average of $63.66. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.29.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.28). The business had revenue of $397.62 million during the quarter, compared to the consensus estimate of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. Sell-side analysts expect that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current year.

Equity Lifestyle Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.5425 per share. The ex-dividend date is Friday, June 26th. This represents a $2.17 dividend on an annualized basis and a yield of 3.4%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 108.50%.

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.