GAMMA Investing LLC increased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS – free report ) by 36.0% in the second quarter, according to its latest Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired an additional 217 shares during the quarter, bringing its holdings to 819 shares of the real estate investment trust. GAMMA Investing LLC's holdings in Equity LifeStyle Properties were valued at $53,000, according to the latest SEC filing.
A number of other hedge funds also modified their holdings of the company's stock. Mather Group LLC purchased a new position in Equity LifeStyle Properties worth approximately $25,000 in the first quarter. Rise Advisors LLC purchased a new position in Equity LifeStyle Properties worth approximately $27,000 in the first quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Equity LifeStyle Properties worth approximately $35,000 in the fourth quarter. Headlands Technologies LLC increased its position in Equity LifeStyle Properties by 143.8% in the fourth quarter. Headlands Technologies LLC now owns 624 shares of the real estate investment trust's stock, valued at $44,000, after purchasing an additional 368 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in Equity LifeStyle Properties by 40.5% in the fourth quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.
Wall Street analysts predict growth
ELS has been featured in numerous research reports. Barclays lowered their price target on Equity LifeStyle Properties from $78.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Truist Financial raised their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reaffirmed a “sector perform” rating on Equity LifeStyle Properties and set a $68.00 price target for the company in a research report on Wednesday, July 24th. Finally, Evercore ISI raised their price target on Equity LifeStyle Properties from $69.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday, July 23rd. Eight research analysts have rated the stock with a hold rating and two have given a buy rating. According to MarketBeat, the company currently has an average rating of “hold” and an average target price of $68.94.
Read the latest report from Equity LifeStyle Properties
Equity Lifestyle Properties, up 1.1%
NYSE ELS traded at $71.85 on Friday, up $0.79. The stock had a trading volume of 1,333,684 shares and its average trading volume was 1,236,691 shares. The company has a market capitalization of $13.4 billion, a price-to-earnings ratio of 39.27, a price-to-earnings ratio (P/E/G) of 4.06 and a beta of 0.77. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties, Inc.'s low in the past 12 months is $59.82 and its high in the past 12 months is $74.04. The stock's 50-day moving average price is $65.72 and its 200-day moving average price is $64.90.
Equity LifeStyle Properties (NYSE:ELS – Get Free Report ) announced its quarterly earnings on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.65 by ($0.23). The business had revenue of $380 million for the quarter, compared to analysts' expectations of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The company's quarterly revenue grew 2.7% year over year. Earnings per share in the same period last year were $0.66. Sell-side analysts expect that Equity LifeStyle Properties, Inc. will post earnings per share of $2.91 for the current fiscal year.
Equity Lifestyle Properties Increases Dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.4775 per share. This is a positive change from Equity LifeStyle Properties' previous quarterly dividend of $0.48. The ex-dividend date is Friday, September 27th. This equates to an annualized dividend of $1.91 and a dividend yield of 2.66%. Equity LifeStyle Properties' dividend payout ratio (DPR) is currently 104.37%.
Equity Lifestyle Properties Company Profile
(Free report)
The Company is a self-administered real estate investment trust (REIT) headquartered in Chicago. As of January 29, 2024, the Company owns or has interests in 451 properties consisting of 172,465 sites in 35 states and British Columbia.
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