PGGM Investments Sells 704,657 Shares of Equity Lifestyle Properties, Inc. $ELS

PGGM Investments lowered its position in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 34.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,336,675 shares of the real estate investment trust’s stock after selling 704,657 shares during the period. PGGM Investments owned about 0.69% of Equity Lifestyle Properties worth $81,016,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GoalVest Advisory LLC bought a new stake in shares of Equity Lifestyle Properties in the fourth quarter worth $25,000. Wiser Advisor Group LLC purchased a new stake in Equity Lifestyle Properties in the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd increased its position in Equity Lifestyle Properties by 943.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 453 shares in the last quarter. Clearstead Trust LLC increased its position in Equity Lifestyle Properties by 74.8% in the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 231 shares in the last quarter. Finally, Fulcrum Asset Management LLP purchased a new stake in Equity Lifestyle Properties in the third quarter worth about $34,000. Institutional investors own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ELS. Wells Fargo & Company restated an “equal weight” rating and issued a $70.00 price target (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Friday, February 27th. Mizuho began coverage on Equity Lifestyle Properties in a research report on Tuesday, March 31st. They issued an “outperform” rating and a $72.00 price target for the company. Wall Street Zen upgraded Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Wednesday, April 15th. Finally, Bank of America upgraded Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.27.

Equity Lifestyle Properties Stock Performance

NYSE ELS opened at $63.60 on Tuesday. The firm has a market cap of $12.33 billion, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of 3.87 and a beta of 0.69. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $63.74 and a 200-day moving average price of $63.57. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $69.00.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.28). The business 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 business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. As a group, equities research analysts predict that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

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

Insider Buying and Selling at Equity Lifestyle Properties

In other news, Director David J. Contis sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total value of $201,660.00. Following the completion of the transaction, the director owned 14,890 shares of the company’s stock, valued at $1,000,905.80. This represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by company insiders.

Equity Lifestyle Properties Profile

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.