20,171 Equity Lifestyle Properties, Inc. $ELS Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing cut its Equity Lifestyle Properties stake by 53.4% in the third quarter, selling 20,171 shares and retaining 17,599 shares valued at approximately $1.03 million.
• Institutional ownership remains very high at 97.21%, with BlackRock and several other major institutions establishing substantial positions during the second quarter.
• Analysts hold a consensus “Hold” rating with an average price target of $67.09, while ELS recently traded near $61.03. The REIT’s latest quarterly revenue exceeded estimates, but earnings per share fell short of consensus expectations.

Inspire Investing LLC decreased its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 53.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,599 shares of the real estate investment trust's stock after selling 20,171 shares during the period. Inspire Investing LLC's holdings in Equity Lifestyle Properties were worth $1,027,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Equity Lifestyle Properties in the second quarter valued at approximately $1,576,449,000. Bank of America Corp DE bought a new position in shares of Equity Lifestyle Properties during the 2nd quarter worth approximately $125,301,000. Canada Pension Plan Investment Board acquired a new position in shares of Equity Lifestyle Properties during the 2nd quarter worth approximately $91,434,000. Bank of New York Mellon Corp acquired a new position in shares of Equity Lifestyle Properties during the 2nd quarter worth approximately $89,012,000. Finally, Legal & General Group Plc acquired a new position in shares of Equity Lifestyle Properties during the 2nd quarter worth approximately $69,938,000. Institutional investors own 97.21% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ELS. Truist Financial set a $64.00 price target on Equity Lifestyle Properties and gave the company a "hold" rating in a research note on Friday, September 11th. Evercore set a $68.00 price objective on shares of Equity Lifestyle Properties in a research report on Monday, September 21st. Morgan Stanley reiterated a "mixed" rating and issued a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Odeon Capital Group set a $65.00 price objective on shares of Equity Lifestyle Properties in a report on Thursday, July 9th. Finally, Wells Fargo & Company set a $64.00 price objective on shares of Equity Lifestyle Properties and gave the company an "equal weight" rating in a research report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Equity Lifestyle Properties presently has a consensus rating of "Hold" and an average price target of $67.09.

Equity Lifestyle Properties Trading Up 0.3%

Shares of ELS stock opened at $61.03 on Tuesday. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.32. The stock has a market cap of $11.84 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 3.49 and a beta of 0.63. The stock has a 50 day simple moving average of $61.24 and a 200 day simple moving average of $63.56. Equity Lifestyle Properties, Inc. has a 1 year low of $57.46 and a 1 year high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.34). Equity Lifestyle Properties had a return on equity of 21.73% and a net margin of 24.97%. The company had revenue of $409.90 million for the quarter, compared to analyst estimates of $402.75 million. During the same period in the prior year, the company earned $0.75 EPS. The company's quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts predict that Equity Lifestyle Properties, Inc. will post 3.19 earnings per share for the current fiscal year.

Equity Lifestyle Properties Profile

Equity LifeStyle Properties, Inc NYSE: ELS is a real estate investment trust that owns, operates and manages manufactured housing communities, recreational vehicle resorts and campgrounds, and marinas. Its properties are designed to provide residential and vacation accommodations, with offerings that range from long-term manufactured home sites to seasonal and transient RV sites and boat storage.

The company serves residents, vacationers and boat owners across the United States. Its portfolio is concentrated in locations with favorable climates, recreational appeal and access to coastal, lakefront or other leisure destinations.

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