Renaissance Technologies LLC grew its position in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 28.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,472,800 shares of the real estate investment trust’s stock after buying an additional 542,100 shares during the period. Renaissance Technologies LLC owned approximately 2.79% of Equity Lifestyle Properties worth $220,129,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Equity Lifestyle Properties in the 3rd quarter valued at $148,000. American International Group Inc. bought a new stake in Equity Lifestyle Properties during the 4th quarter worth about $172,000. Advisor Group Inc. lifted its position in Equity Lifestyle Properties by 37.5% during the 3rd quarter. Advisor Group Inc. now owns 2,048 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 559 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Equity Lifestyle Properties by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,577 shares of the real estate investment trust’s stock worth $222,000 after buying an additional 178 shares in the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in shares of Equity Lifestyle Properties in the 3rd quarter valued at about $237,000. 97.82% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on ELS. Robert W. Baird reaffirmed a “hold” rating and issued a $95.00 target price on shares of Equity Lifestyle Properties in a report on Monday, December 11th. Evercore ISI upgraded shares of Equity Lifestyle Properties from an “underperform” rating to an “in-line” rating in a research note on Monday, December 4th. BMO Capital Markets reiterated a “hold” rating and issued a $94.00 price target on shares of Equity Lifestyle Properties in a research note on Monday, November 27th. Zacks Investment Research upgraded shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Tuesday, December 19th. Finally, Cantor Fitzgerald set a $85.00 price target on shares of Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $89.50.
Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, January 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.33). The firm had revenue of $229.99 million for the quarter, compared to analyst estimates of $210.71 million. Equity Lifestyle Properties had a return on equity of 20.84% and a net margin of 22.41%. sell-side analysts expect that Equity Lifestyle Properties, Inc. will post 3.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.57%. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.49. The ex-dividend date is Wednesday, March 28th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 89.86%.
In related news, Vice Chairman Howard Walker sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $88.74, for a total transaction of $106,488.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paul Seavey sold 7,775 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $87.98, for a total transaction of $684,044.50. Following the transaction, the chief financial officer now directly owns 48,502 shares in the company, valued at $4,267,205.96. The disclosure for this sale can be found here. Insiders sold 21,475 shares of company stock valued at $1,894,283 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.
Equity Lifestyle Properties Profile
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (properties) consisting primarily of manufactured home (MH) communities and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations and Home Sales and Rentals Operations.
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