Bank of America Corp DE lowered its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 406,058 shares of the real estate investment trust’s stock after selling 14,061 shares during the period. Bank of America Corp DE owned 0.46% of Equity Lifestyle Properties worth $37,317,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of Equity Lifestyle Properties in the second quarter worth $204,000. Koch Industries Inc. purchased a new position in shares of Equity Lifestyle Properties in the first quarter worth $205,000. Chicago Equity Partners LLC purchased a new position in shares of Equity Lifestyle Properties in the second quarter worth $207,000. Hartford Investment Management Co. purchased a new position in shares of Equity Lifestyle Properties in the second quarter worth $220,000. Finally, Virtu Financial LLC purchased a new position in shares of Equity Lifestyle Properties in the second quarter worth $224,000. 95.51% of the stock is owned by institutional investors and hedge funds.
Shares of Equity Lifestyle Properties stock opened at $95.11 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.04 and a quick ratio of 0.04. Equity Lifestyle Properties, Inc. has a 1 year low of $79.78 and a 1 year high of $97.44. The firm has a market cap of $8.55 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 4.28 and a beta of 0.16.
Equity Lifestyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 23rd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.02). Equity Lifestyle Properties had a return on equity of 20.05% and a net margin of 22.25%. The business had revenue of $240.50 million for the quarter, compared to analysts’ expectations of $224.20 million. During the same period last year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. equities analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 28th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.20 annualized dividend and a dividend yield of 2.31%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 61.11%.
ELS has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Equity Lifestyle Properties from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Bank of America raised their price target on shares of Equity Lifestyle Properties from $99.00 to $100.50 and gave the stock a “buy” rating in a report on Monday, September 17th. ValuEngine raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Finally, Wells Fargo & Co raised their target price on shares of Equity Lifestyle Properties from $95.00 to $104.00 and gave the stock an “outperform” rating in a report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $94.21.
Equity Lifestyle Properties Company Profile
We are a self-administered, self-managed real estate investment trust (?REIT?) with headquarters in Chicago. As of July 23, 2018, we own or have an interest in 410 quality properties in 32 states and British Columbia consisting of 153,549 sites.
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