PNC Financial Services Group Inc. Lowers Stock Position in Equity Lifestyle Properties, Inc. $ELS

PNC Financial Services Group Inc. lessened its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 12.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,399 shares of the real estate investment trust’s stock after selling 2,878 shares during the period. PNC Financial Services Group Inc.’s holdings in Equity Lifestyle Properties were worth $1,196,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ELS. Brooklyn Investment Group lifted its position in Equity Lifestyle Properties by 673.7% during the 1st quarter. Brooklyn Investment Group now owns 441 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 384 shares during the period. Allworth Financial LP lifted its holdings in shares of Equity Lifestyle Properties by 204.1% during the second quarter. Allworth Financial LP now owns 660 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 443 shares during the last quarter. National Pension Service lifted its holdings in shares of Equity Lifestyle Properties by 75.0% during the first quarter. National Pension Service now owns 644 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 276 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Equity Lifestyle Properties by 874.7% in the 2nd quarter. IFP Advisors Inc now owns 848 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 761 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Equity Lifestyle Properties in the 1st quarter worth approximately $61,000. 97.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI lowered their price objective on Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating for the company in a research note on Thursday, October 23rd. Truist Financial set a $68.00 price target on Equity Lifestyle Properties and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Morgan Stanley dropped their price target on shares of Equity Lifestyle Properties from $67.50 to $62.50 and set an “equal weight” rating on the stock in a research note on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Equity Lifestyle Properties in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Equity Lifestyle Properties presently has an average rating of “Moderate Buy” and an average target price of $70.14.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS opened at $61.92 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.04 and a current ratio of 0.05. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 3.32 and a beta of 0.71. The business has a 50-day simple moving average of $61.44 and a two-hundred day simple moving average of $61.73. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $72.81.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Equity Lifestyle Properties had a net margin of 24.97% and a return on equity of 20.99%. The firm had revenue of $393.31 million during the quarter, compared to analyst estimates of $389.39 million. During the same period in the previous year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, 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 announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 26th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, December 26th. This represents a $2.06 dividend on an annualized basis and a yield of 3.3%. Equity Lifestyle Properties’s payout ratio is currently 103.52%.

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.