Vanderbilt University Reduces Position in Equity Lifestyle Properties, Inc. $ELS

Vanderbilt University lessened its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 45.7% in the first quarter, Holdings Channel.com reports. The firm owned 31,057 shares of the real estate investment trust’s stock after selling 26,092 shares during the period. Vanderbilt University’s holdings in Equity Lifestyle Properties were worth $1,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of 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 purchasing an additional 11,999,874 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Equity Lifestyle Properties by 253.7% in the 3rd 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. boosted its holdings in Equity Lifestyle Properties by 26.8% in the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock worth $643,331,000 after buying an additional 2,246,622 shares during the period. Norges Bank purchased a new position in Equity Lifestyle Properties in the 4th quarter valued at approximately $125,352,000. Finally, Centersquare Investment Management LLC raised its holdings in Equity Lifestyle Properties by 2,448.8% during the 3rd quarter. Centersquare Investment Management LLC now owns 1,963,378 shares of the real estate investment trust’s stock valued at $119,177,000 after acquiring an additional 1,886,348 shares during the period. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analyst Upgrades and Downgrades

ELS has been the topic of several recent research reports. Mizuho initiated coverage on Equity Lifestyle Properties in a research report on Tuesday, March 31st. They set an “outperform” rating and a $72.00 target price on the stock. Barclays reduced their price target on Equity Lifestyle Properties from $71.00 to $68.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Wednesday, April 15th. Wall Street Zen raised Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Wells Fargo & Company reduced their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Equity Lifestyle Properties currently has an average rating of “Moderate Buy” and an average price target of $69.20.

Equity Lifestyle Properties Stock Up 1.3%

Shares of NYSE:ELS opened at $63.40 on Thursday. The firm has a fifty day moving average price of $63.06 and a two-hundred day moving average price of $63.64. The company has a market cap of $12.30 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 3.81 and a beta of 0.67. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.04 and a quick ratio of 0.04. Equity Lifestyle Properties, Inc. has a one year low of $58.15 and a one year high of $69.00.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.28). The firm had revenue of $397.62 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. Analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, June 26th. Equity Lifestyle Properties’s dividend payout ratio is 108.50%.

About Equity Lifestyle Properties

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.