Daiwa Securities Group Inc. Has $221.62 Million Stock Holdings in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Daiwa Securities Group increased its stake in Equity Lifestyle Properties by 16.2% in the fourth quarter, buying 509,442 additional shares to reach 3,656,490 shares worth about $221.6 million.
• Equity Lifestyle Properties reported Q1 earnings of $0.56 per share, missing analyst expectations of $0.84, though revenue of $397.6 million slightly beat estimates and rose 2.7% year over year.
• The company declared a quarterly dividend of $0.5425 per share, implying a 3.5% annual yield, while analysts currently rate the stock a Moderate Buy with a consensus price target of $69.20.

Daiwa Securities Group Inc. lifted its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 16.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,656,490 shares of the real estate investment trust's stock after purchasing an additional 509,442 shares during the period. Equity Lifestyle Properties accounts for 0.7% of Daiwa Securities Group Inc.'s portfolio, making the stock its 25th largest holding. Daiwa Securities Group Inc. owned 1.89% of Equity Lifestyle Properties worth $221,619,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ELS. Empowered Funds LLC increased its stake in shares of Equity Lifestyle Properties by 14.1% during the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust's stock worth $435,000 after purchasing an additional 804 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Equity Lifestyle Properties by 598.5% during the 1st quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust's stock worth $7,964,000 after purchasing an additional 102,303 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Equity Lifestyle Properties by 62.3% during the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust's stock worth $1,542,000 after purchasing an additional 8,873 shares during the last quarter. Cetera Investment Advisers grew its stake in Equity Lifestyle Properties by 111.0% in the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust's stock valued at $624,000 after buying an additional 5,325 shares during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in Equity Lifestyle Properties in the 2nd quarter valued at about $300,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Stock Performance

NYSE ELS opened at $61.77 on Friday. 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 company has a market capitalization of $11.98 billion, a P/E ratio of 30.88, a P/E/G ratio of 3.74 and a beta of 0.67. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $69.00. The firm has a 50-day moving average price of $63.12 and a two-hundred day moving average price of $63.57.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share (EPS) 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 net margin of 24.99% and a return on equity of 21.22%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. Analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued 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 yield of 3.5%. Equity Lifestyle Properties's payout ratio is currently 108.50%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ELS. Barclays decreased their price target on shares of Equity Lifestyle Properties from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Zelman & Associates began coverage on shares of Equity Lifestyle Properties in a research note on Monday, March 16th. They issued an "underperform" rating and a $59.25 price target on the stock. Wells Fargo & Company decreased their price target on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Monday. Zacks Research upgraded shares of Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. Finally, Robert W. Baird upped their price target on shares of Equity Lifestyle Properties from $73.00 to $74.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Equity Lifestyle Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.20.

Insider Transactions at Equity Lifestyle Properties

In other Equity Lifestyle Properties news, Director David J. Contis sold 3,000 shares of the business's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total value of $201,660.00. Following the completion of the sale, the director owned 14,890 shares of the company's stock, valued at $1,000,905.80. The trade was a 16.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.80% of the stock is owned by corporate 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.

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