Cwm LLC Buys 1,175 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

Cwm LLC increased its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 57.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,209 shares of the real estate investment trust’s stock after acquiring an additional 1,175 shares during the quarter. Cwm LLC’s holdings in Equity Lifestyle Properties were worth $214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. lifted its position in shares of Equity Lifestyle Properties by 592.7% in the fourth quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust’s stock worth $260,955,000 after buying an additional 3,352,584 shares in the last quarter. Norges Bank purchased a new stake in shares of Equity Lifestyle Properties in the fourth quarter worth about $163,212,000. Northern Trust Corp lifted its position in shares of Equity Lifestyle Properties by 43.3% in the fourth quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust’s stock worth $162,162,000 after buying an additional 735,580 shares in the last quarter. Millennium Management LLC lifted its position in shares of Equity Lifestyle Properties by 221.2% in the fourth quarter. Millennium Management LLC now owns 975,391 shares of the real estate investment trust’s stock worth $64,961,000 after buying an additional 671,703 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of Equity Lifestyle Properties in the fourth quarter worth about $36,520,000. Institutional investors own 97.21% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Paul Seavey sold 10,000 shares of Equity Lifestyle Properties 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 sale, the chief financial officer owned 78,162 shares in the company, valued at $5,058,644.64. This trade represents a 11.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on ELS shares. Morgan Stanley started coverage on shares of Equity Lifestyle Properties in a research report on Tuesday, July 15th. They set a “positive” rating and a $67.50 price objective for the company. Royal Bank Of Canada lowered their price objective on shares of Equity Lifestyle Properties from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 23rd. Barclays started coverage on shares of Equity Lifestyle Properties in a research report on Thursday, May 29th. They set an “equal weight” rating and a $70.00 price objective for the company. Truist Financial lowered their price objective on shares of Equity Lifestyle Properties from $72.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, BMO Capital Markets lowered 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 report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.05.

Equity Lifestyle Properties Trading Down 0.6%

Shares of NYSE ELS opened at $59.56 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.03 and a current ratio of 0.04. The business’s 50 day moving average price is $62.50 and its 200-day moving average price is $64.66. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.86 and a fifty-two week high of $76.60. The company has a market cap of $11.39 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 3.22 and a beta of 0.72.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, hitting the consensus estimate of $0.69. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%. The firm had revenue of $313.29 million for the quarter, compared to the consensus estimate of $377.59 million. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, June 27th. This represents a $2.06 dividend on an annualized basis and a yield of 3.46%. Equity Lifestyle Properties’s payout ratio is 106.74%.

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.