Schroder Investment Management Group acquired an additional $2,017,000 worth of Equity LifeStyle Properties (ELS) shares for the quarter ending July 30th, 2016. Finance Daily tells MHProNews that the purchase results in a 2.2% increase over its previous holdings in the REIT (NYSE: ELS) bringing total investment figures up to $15,875,000.
Previous stock ratings on ELS were mixed between the Citigroup July7 rating of “Neutral” and Equity analyst BB&T Capital’s rating of “Hold” with projected price targets ranging from $55.00 to $60.00.
Affects of the purchase led to ELS stock edging upwards 0.32% allowing its climb over the 50-day moving average and the company to announce a dividend payout $0.425 per share for the quarter – equivalent to $1.70 for the year.
In addition EPS figures are projected to be $3.30 for the current year – a $1.45 increase from the company’s last earnings report.
The Daily Business News tracks ELS and other MH stocks, and notes an up trending $80.84 close yesterday with a P/E ratio of 43.61. As MHProNews readers know, the manufactured home community sector is a hot ticket for investors, ELS is one of the largest manufactured home community operators, is a publicly traded REIT, and was the recent subject of an analysis by SeekingAlpha of MHC REITs, see Matthew Silver’s report linked here. ##
(Image credit, ELS logo.)
Submitted by Frank Griffin to Daily Business News, MHProNews.com.