California Public Employees Retirement System Decreases Stake in Equity Lifestyle Properties, Inc. $ELS

California Public Employees Retirement System lowered its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 8.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm 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 owned about 0.23% of Equity Lifestyle Properties worth $28,319,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Equity Lifestyle Properties by 303.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock valued at $966,648,000 after buying an additional 11,999,874 shares during the period. Daiwa Securities Group Inc. grew its stake in Equity Lifestyle Properties by 253.7% during the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock worth $191,025,000 after buying an additional 2,257,299 shares during the period. Cohen & Steers Inc. increased its position in shares of Equity Lifestyle Properties by 26.8% in the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock worth $643,331,000 after acquiring an additional 2,246,622 shares in the last quarter. Norges Bank acquired a new stake in shares of Equity Lifestyle Properties in the fourth quarter worth $125,352,000. Finally, Royal London Asset Management Ltd. raised its stake in shares of Equity Lifestyle Properties by 1,520.4% in the 2nd quarter. Royal London Asset Management Ltd. now owns 1,771,803 shares of the real estate investment trust’s stock valued at $109,267,000 after acquiring an additional 1,662,458 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity Lifestyle Properties Stock Down 0.6%

Shares of NYSE:ELS opened at $64.88 on Wednesday. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 3.97 and a beta of 0.66. The company has a 50 day moving average of $63.46 and a two-hundred day moving average of $64.09. Equity Lifestyle Properties, Inc. has a 52-week low of $58.15 and a 52-week high of $69.00. 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 (NYSE:ELS) last posted its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.28). The firm had revenue of $397.62 million for the quarter, compared to analyst estimates of $395.71 million. Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share. As a group, analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently weighed in on ELS. Jefferies Financial Group upgraded shares of Equity Lifestyle Properties to a “strong-buy” rating in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Wednesday, April 15th. Mizuho initiated coverage on Equity Lifestyle Properties in a research report on Tuesday, March 31st. They issued an “outperform” rating and a $72.00 price objective on the stock. Wall Street Zen upgraded Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Odeon Capital Group set a $65.00 target price on Equity Lifestyle Properties in a research report on Thursday, July 9th. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.