Citadel Advisors LLC reduced its position in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 67.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,961 shares of the real estate investment trust’s stock after selling 8,187 shares during the quarter. Citadel Advisors LLC’s holdings in Equity Lifestyle Properties were worth $342,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Advisor Group Inc. increased its holdings in Equity Lifestyle Properties by 9.2% in the second quarter. Advisor Group Inc. now owns 1,489 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 125 shares during the last quarter. Pacad Investment Ltd. bought a new stake in Equity Lifestyle Properties in the second quarter valued at about $155,000. Parallel Advisors LLC increased its holdings in Equity Lifestyle Properties by 3.8% in the second quarter. Parallel Advisors LLC now owns 2,244 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 82 shares during the last quarter. Menta Capital LLC bought a new stake in Equity Lifestyle Properties in the first quarter valued at about $200,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Equity Lifestyle Properties in the first quarter valued at about $210,000. 95.74% of the stock is owned by hedge funds and other institutional investors.
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In other Equity Lifestyle Properties news, Chairman Samuel Zell purchased 805,333 shares of the business’s stock in a transaction on Friday, July 21st. The stock was purchased at an average price of $87.43 per share, for a total transaction of $70,410,264.19. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by company insiders.
Several analysts recently weighed in on the company. Zacks Investment Research raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Thursday, September 21st. BidaskClub raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Robert W. Baird lowered Equity Lifestyle Properties from an “outperform” rating to a “neutral” rating and set a $92.00 price objective for the company. in a report on Friday, September 8th. Finally, BMO Capital Markets assumed coverage on Equity Lifestyle Properties in a report on Monday. They issued a “market perform” rating and a $92.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Equity Lifestyle Properties presently has a consensus rating of “Hold” and a consensus price target of $87.60.
Equity Lifestyle Properties, Inc. (ELS) opened at 87.57 on Wednesday. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 43.46 and a beta of 0.32. The stock’s 50 day moving average price is $87.51 and its 200 day moving average price is $84.89. Equity Lifestyle Properties, Inc. has a 12-month low of $65.87 and a 12-month high of $90.80.
Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 17th. The real estate investment trust reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $209.80 million. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. On average, equities research analysts anticipate that Equity Lifestyle Properties, Inc. will post $2.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.4875 per share. This represents a $1.95 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, September 28th. Equity Lifestyle Properties’s dividend payout ratio is 97.02%.
About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (properties) consisting primarily of manufactured home (MH) communities and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations and Home Sales and Rentals Operations.
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