Canada Pension Plan Investment Board Takes Position in Equity Lifestyle Properties, Inc. $ELS

Canada Pension Plan Investment Board bought a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,418,675 shares of the real estate investment trust’s stock, valued at approximately $91,434,000. Canada Pension Plan Investment Board owned approximately 0.73% of Equity Lifestyle Properties as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of ELS. BlackRock Inc. bought a new position in Equity Lifestyle Properties during the second quarter valued at $1,576,449,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Equity Lifestyle Properties by 303.9% in the 4th 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 during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Equity Lifestyle Properties by 253.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock valued at $191,025,000 after buying an additional 2,257,299 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of Equity Lifestyle Properties by 26.8% during the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock valued at $643,331,000 after buying an additional 2,246,622 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Equity Lifestyle Properties in the 4th quarter valued at about $125,352,000. Institutional investors own 97.21% of the company’s stock.

Equity Lifestyle Properties Price Performance

ELS stock opened at $64.66 on Thursday. The stock has a market cap of $12.55 billion, a PE ratio of 31.09, a P/E/G ratio of 3.81 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 company has a 50-day moving average price of $64.80 and a 200 day moving average price of $64.64. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31.

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

Equity Lifestyle Properties Dividend Announcement

The firm also recently declared 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 is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio is presently 104.33%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ELS. Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Barclays set a $69.00 price objective on Equity Lifestyle Properties and gave the company an “equal weight” rating in a research note on Monday, August 17th. Jefferies Financial Group upgraded Equity Lifestyle Properties to a “strong-buy” rating in a report on Wednesday, July 22nd. Morgan Stanley reissued a “mixed” rating and set a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company decreased their price target on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Equity Lifestyle Properties has an average rating of “Moderate Buy” and a consensus price target of $68.52.

Equity Lifestyle Properties 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.