Arrowstreet Capital Limited Partnership Has $65.94 Million Position in Equity Lifestyle Properties, Inc. $ELS

Arrowstreet Capital Limited Partnership raised its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 8.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,069,162 shares of the real estate investment trust’s stock after purchasing an additional 85,359 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Equity Lifestyle Properties were worth $65,935,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of Equity Lifestyle Properties during the 2nd quarter worth $164,862,000. Nuveen LLC bought a new position in shares of Equity Lifestyle Properties in the first quarter worth about $142,937,000. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Equity Lifestyle Properties by 101.4% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,251,554 shares of the real estate investment trust’s stock worth $83,479,000 after purchasing an additional 630,065 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Equity Lifestyle Properties by 12.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,724,515 shares of the real estate investment trust’s stock valued at $291,363,000 after purchasing an additional 515,063 shares during the period. Finally, American Century Companies Inc. grew its holdings in Equity Lifestyle Properties by 535.2% in the 1st quarter. American Century Companies Inc. now owns 369,167 shares of the real estate investment trust’s stock valued at $24,623,000 after buying an additional 311,053 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on ELS. Jefferies Financial Group upgraded Equity Lifestyle Properties to a “strong-buy” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Equity Lifestyle Properties in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Morgan Stanley dropped their price objective on shares of Equity Lifestyle Properties from $67.50 to $62.50 and set an “equal weight” rating on the stock in a report on Thursday, September 4th. Finally, Evercore ISI lowered their price target on Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating on the stock in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.14.

Equity Lifestyle Properties Price Performance

Equity Lifestyle Properties stock opened at $62.00 on Friday. The business’s 50-day simple moving average is $61.88 and its 200 day simple moving average is $61.65. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.27. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 3.48 and a beta of 0.78. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $70.55.

Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results on Thursday, October 23rd. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. Equity Lifestyle Properties had a return on equity of 20.99% and a net margin of 24.97%.The company had revenue of $393.31 million during the quarter, compared to analyst estimates of $389.39 million. During the same period in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $2.06 annualized dividend and a dividend yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 103.52%.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.