GAMMA Investing LLC Raises Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

GAMMA Investing LLC lifted its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 6,967.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,596 shares of the real estate investment trust’s stock after buying an additional 122,833 shares during the quarter. GAMMA Investing LLC owned approximately 0.07% of Equity LifeStyle Properties worth $8,311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Pension Service purchased a new stake in shares of Equity LifeStyle Properties during the fourth quarter worth about $25,000. Bessemer Group Inc. grew its holdings in Equity LifeStyle Properties by 121.4% in the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 210 shares during the period. SRS Capital Advisors Inc. purchased a new stake in Equity LifeStyle Properties in the fourth quarter valued at approximately $73,000. Signaturefd LLC grew its holdings in Equity LifeStyle Properties by 32.9% in the fourth quarter. Signaturefd LLC now owns 1,854 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 459 shares during the period. Finally, Principal Securities Inc. grew its holdings in Equity LifeStyle Properties by 142.6% in the fourth quarter. Principal Securities Inc. now owns 1,999 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 1,175 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ELS. Barclays began coverage on shares of Equity LifeStyle Properties in a report on Thursday, May 29th. They issued an “equal weight” rating and a $70.00 target price for the company. BMO Capital Markets decreased their price objective on shares of Equity LifeStyle Properties from $78.00 to $77.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Truist Financial reduced their target price on shares of Equity LifeStyle Properties from $72.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research report on Tuesday, April 8th. They set a “buy” rating and a $80.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Equity LifeStyle Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.90.

Equity LifeStyle Properties Stock Down 0.7%

Shares of NYSE:ELS opened at $62.27 on Monday. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 31.93, a price-to-earnings-growth ratio of 3.02 and a beta of 0.73. Equity LifeStyle Properties, Inc. has a 1-year low of $58.86 and a 1-year high of $76.60. The company’s fifty day moving average is $64.05 and its two-hundred day moving average is $66.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.83. The company had revenue of $327.21 million for the quarter, compared to analysts’ expectations of $391.34 million. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. During the same period in the prior year, the company earned $0.59 earnings per share. Equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.06 annualized dividend and a dividend yield of 3.31%. Equity LifeStyle Properties’s dividend payout ratio is currently 106.74%.

Insider Transactions at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total transaction of $647,200.00. Following the completion of the transaction, the chief financial officer now owns 78,162 shares in the company, valued at approximately $5,058,644.64. This represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

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.