California Public Employees Retirement System Reduces Position in Equity Lifestyle Properties, Inc. $ELS

California Public Employees Retirement System decreased its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 8.3% during the 1st quarter, HoldingsChannel reports. The fund owned 453,682 shares of the real estate investment trust’s stock after selling 41,322 shares during the quarter. California Public Employees Retirement System’s holdings in Equity Lifestyle Properties were worth $28,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Empowered Funds LLC grew its stake in Equity Lifestyle Properties by 14.1% during the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock valued at $435,000 after purchasing an additional 804 shares in the last quarter. Jane Street Group LLC raised its position in shares of Equity Lifestyle Properties by 598.5% in the 1st quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock valued at $7,964,000 after purchasing an additional 102,303 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Equity Lifestyle Properties by 62.3% in the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust’s stock valued at $1,542,000 after purchasing an additional 8,873 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Equity Lifestyle Properties by 111.0% during the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust’s stock valued at $624,000 after buying an additional 5,325 shares during the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Equity Lifestyle Properties during the 2nd quarter valued at approximately $300,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Equity Lifestyle Properties Trading Down 0.6%

NYSE:ELS opened at $64.88 on Wednesday. The company has a market cap of $12.58 billion, a PE ratio of 32.44, a P/E/G ratio of 3.97 and a beta of 0.66. The business’s 50 day moving average is $63.46 and its two-hundred day moving average is $64.09. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $69.00.

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

Equity Lifestyle Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were paid a dividend of $0.5425 per share. The ex-dividend date was Friday, June 26th. This represents a $2.17 annualized dividend and a yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 108.50%.

Analysts Set New Price Targets

ELS has been the subject of a number of recent analyst reports. Truist Financial set a $67.00 price target on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a report on Friday, June 26th. Odeon Capital Group set a $65.00 price objective on shares of Equity Lifestyle Properties in a research note on Thursday, July 9th. Mizuho started coverage on shares of Equity Lifestyle Properties in a report on Tuesday, March 31st. They set an “outperform” rating and a $72.00 price objective for the company. Finally, Barclays reissued an “equal weight” rating and issued a $68.00 target price on shares of Equity Lifestyle Properties in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $68.70.

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.