Danske Bank A S Has $10.42 Million Stake in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Danske Bank A/S raised its stake in Equity Lifestyle Properties by 50.9% in Q4 to 171,857 shares, a holding worth about $10.42 million (≈0.09% of the company).
• Equity Lifestyle missed Q1 EPS expectations ($0.56 vs. $0.84) while revenue modestly beat estimates at $397.6M, and the company declared a quarterly dividend of $0.5425 (annualized $2.17) implying a 3.5% yield with a payout ratio of 108.5%.
• Shares trade near $62.58 with a $12.14B market cap and a P/E of 31.3; analysts have a consensus rating of “Moderate Buy” and a $69.63 target, and institutional ownership is about 97%.

Danske Bank A S lifted its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 50.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,857 shares of the real estate investment trust's stock after acquiring an additional 58,000 shares during the quarter. Danske Bank A S owned approximately 0.09% of Equity Lifestyle Properties worth $10,416,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ELS. Empowered Funds LLC boosted its position in 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 buying an additional 804 shares during the period. Jane Street Group LLC boosted its position in 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 buying an additional 102,303 shares during the period. Intech Investment Management LLC boosted its position in 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 buying an additional 8,873 shares during the period. Cetera Investment Advisers boosted its position in Equity Lifestyle Properties by 111.0% during the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust's stock worth $624,000 after buying an additional 5,325 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new stake in Equity Lifestyle Properties during the 2nd quarter worth approximately $300,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Stock Down 0.4%

Shares of NYSE ELS opened at $62.58 on Tuesday. The company has a market capitalization of $12.14 billion, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 3.82 and a beta of 0.69. Equity Lifestyle Properties, Inc. has a 52-week low of $58.15 and a 52-week high of $69.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.04 and a current ratio of 0.04. The company's 50 day moving average price is $65.19 and its 200-day moving average price is $63.43.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced 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 analyst estimates of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. Equities analysts forecast 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. Stockholders of record on Friday, June 26th will be paid a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, June 26th. Equity Lifestyle Properties's payout ratio is currently 108.50%.

Insider Activity

In other news, Director David J. Contis sold 3,000 shares of the business'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 transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on ELS shares. Zacks Research raised Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. UBS Group set a $67.00 target price on Equity Lifestyle Properties and gave the stock a "buy" rating in a report on Thursday, January 8th. Bank of America raised Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $76.00 target price on the stock in a report on Tuesday, February 3rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $70.00 target price on shares of Equity Lifestyle Properties in a report on Friday, January 30th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Equity Lifestyle Properties in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.63.

About Equity Lifestyle Properties

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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