Westpac Banking Corp cut its stake in Equity Lifestyle Properties Inc. (NYSE:ELS) by 35.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,900 shares of the company’s stock after selling 12,100 shares during the period. Westpac Banking Corp’s holdings in Equity Lifestyle Properties were worth $1,305,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Equity Lifestyle Properties during the fourth quarter valued at about $43,997,000. Emerald Acquisition Ltd. purchased a new position in shares of Equity Lifestyle Properties during the second quarter valued at about $39,591,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Equity Lifestyle Properties during the first quarter valued at about $33,005,000. Goldman Sachs Group Inc. boosted its position in shares of Equity Lifestyle Properties by 25.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,556,487 shares of the company’s stock valued at $113,204,000 after buying an additional 311,786 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Equity Lifestyle Properties by 2.5% in the second quarter. Vanguard Group Inc. now owns 12,058,051 shares of the company’s stock valued at $965,247,000 after buying an additional 289,143 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.
Shares of Equity Lifestyle Properties Inc. (NYSE:ELS) opened at 77.18 on Friday. Equity Lifestyle Properties Inc. has a one year low of $57.71 and a one year high of $83.19. The firm’s 50-day moving average is $78.23 and its 200-day moving average is $75.62. The stock has a market capitalization of $6.58 billion, a PE ratio of 41.65 and a beta of 0.48.
Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 18th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $210.10 million for the quarter, compared to analysts’ expectations of $114.76 million. Equity Lifestyle Properties had a net margin of 21.01% and a return on equity of 20.11%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. On average, analysts expect that Equity Lifestyle Properties Inc. will post $3.30 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 2.20%. Equity Lifestyle Properties’s payout ratio is 91.40%.
ELS has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $77.00 target price on shares of Equity Lifestyle Properties in a report on Thursday, July 28th. Citigroup Inc. lifted their target price on shares of Equity Lifestyle Properties from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Finally, Cantor Fitzgerald reissued a “hold” rating on shares of Equity Lifestyle Properties in a report on Saturday, June 4th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of C$71.25.
Equity Lifestyle Properties Company Profile
Equity LifeStyle Properties, Inc is a real estate investment trust. The Company is an integrated 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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