Swiss National Bank boosted its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 79.3% in the second quarter, HoldingsChannel reports. The firm owned 278,600 shares of the real estate investment trust’s stock after purchasing an additional 123,200 shares during the period. Swiss National Bank’s holdings in Equity Lifestyle Properties were worth $33,805,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Comerica Bank increased its position in Equity Lifestyle Properties by 86.3% in the 2nd quarter. Comerica Bank now owns 14,175 shares of the real estate investment trust’s stock valued at $1,776,000 after acquiring an additional 6,567 shares during the period. DekaBank Deutsche Girozentrale increased its position in Equity Lifestyle Properties by 23.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 13,854 shares of the real estate investment trust’s stock valued at $1,697,000 after acquiring an additional 2,662 shares during the period. TD Asset Management Inc. acquired a new stake in Equity Lifestyle Properties in the 2nd quarter valued at approximately $250,000. Westpac Banking Corp increased its position in Equity Lifestyle Properties by 12.5% in the 2nd quarter. Westpac Banking Corp now owns 23,284 shares of the real estate investment trust’s stock valued at $2,825,000 after acquiring an additional 2,584 shares during the period. Finally, Signaturefd LLC increased its position in Equity Lifestyle Properties by 53.5% in the 2nd quarter. Signaturefd LLC now owns 505 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 176 shares during the period. 92.16% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Paul Seavey sold 7,000 shares of Equity Lifestyle Properties stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $124.80, for a total transaction of $873,600.00. Following the transaction, the chief financial officer now directly owns 71,571 shares in the company, valued at approximately $8,932,060.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Roger Maynard sold 10,000 shares of Equity Lifestyle Properties stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the transaction, the executive vice president now owns 130,645 shares in the company, valued at $16,330,625. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by company insiders.
Several research firms recently commented on ELS. BMO Capital Markets restated a “hold” rating and issued a $120.00 target price on shares of Equity Lifestyle Properties in a research report on Wednesday, April 24th. Zacks Investment Research upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Equity Lifestyle Properties presently has a consensus rating of “Hold” and a consensus target price of $112.25.
ELS opened at $136.29 on Thursday. Equity Lifestyle Properties, Inc. has a 12 month low of $90.90 and a 12 month high of $136.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market cap of $12.42 billion, a P/E ratio of 35.22, a P/E/G ratio of 4.55 and a beta of 0.26. The stock’s 50 day moving average price is $127.40 and its 200 day moving average price is $118.62.
Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.02. Equity Lifestyle Properties had a return on equity of 22.00% and a net margin of 27.02%. The company had revenue of $248.37 million for the quarter, compared to analysts’ expectations of $244.91 million. During the same period last year, the firm earned $0.89 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts anticipate that Equity Lifestyle Properties, Inc. will post 4.2 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.613 per share. The ex-dividend date of this dividend is Thursday, September 26th. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.61. This represents a $2.45 annualized dividend and a dividend yield of 1.80%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 63.31%.
Equity Lifestyle Properties Profile
We are a self-administered, self-managed real estate investment trust (?REIT?) with headquarters in Chicago. As of January 28, 2019, we own or have an interest in 409 quality properties in 33 states and British Columbia consisting of 153,984 sites.
Further Reading: Lock-Up Period Expiration
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