Amundi Lowers Stock Holdings in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Amundi cut its Equity Lifestyle Properties stake by 72.5% in the first quarter, selling 397,627 shares and retaining 150,852 shares valued at approximately $9.4 million. Institutional investors collectively own 97.21% of ELS.
• Analyst sentiment is mixed but improving, with one Strong Buy, seven Buy, eight Hold and one Sell rating; the consensus rating is Hold with a $68.70 price target versus the stock’s $65.01 opening price.
• ELS reported quarterly revenue of $397.81 million, up 5.5% year over year and above estimates, but earnings per share of $0.50 missed expectations. The company declared a quarterly dividend of $0.5425 per share, representing a 3.3% annualized yield.

Amundi lessened its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 72.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 150,852 shares of the real estate investment trust's stock after selling 397,627 shares during the period. Amundi owned 0.08% of Equity Lifestyle Properties worth $9,416,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Empowered Funds LLC grew its position in shares of Equity Lifestyle Properties by 3.5% during the fourth quarter. Empowered Funds LLC now owns 5,055 shares of the real estate investment trust's stock valued at $306,000 after purchasing an additional 169 shares in the last quarter. Bessemer Group Inc. lifted its stake in Equity Lifestyle Properties by 30.3% in the first quarter. Bessemer Group Inc. now owns 735 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 171 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Equity Lifestyle Properties by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 43,367 shares of the real estate investment trust's stock valued at $2,628,000 after buying an additional 172 shares during the period. Private Advisor Group LLC boosted its position in shares of Equity Lifestyle Properties by 3.7% during the third quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust's stock valued at $300,000 after buying an additional 178 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of Equity Lifestyle Properties by 3.5% during the first quarter. Fifth Third Bancorp now owns 5,561 shares of the real estate investment trust's stock worth $347,000 after acquiring an additional 189 shares during the period. 97.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ELS shares. Robert W. Baird upped their price objective on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Wells Fargo & Company lowered their price target on Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating for the company in a report on Monday, June 1st. Jefferies Financial Group upgraded Equity Lifestyle Properties to a "strong-buy" rating in a research note on Wednesday, July 22nd. Wall Street Zen raised shares of Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 target price for the company in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $68.70.

Equity Lifestyle Properties Stock Up 0.2%

ELS opened at $65.01 on Thursday. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.72 and a fifty-two week high of $69.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.02 and a current ratio of 0.02. The company has a fifty day moving average of $64.13 and a two-hundred day moving average of $64.48. The stock has a market capitalization of $12.62 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 3.80 and a beta of 0.64.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The firm had revenue of $397.81 million for the quarter, compared to analysts' expectations of $383.66 million. During the same period in the previous year, the company earned $0.69 earnings per share. The company's revenue was up 5.5% compared to the same quarter last year. On average, research analysts expect that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be given a dividend of $0.5425 per share. The ex-dividend date is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a yield of 3.3%. Equity Lifestyle Properties's dividend payout ratio is currently 104.33%.

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.

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