Equity Lifestyle Properties, Inc. $ELS Shares Bought by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its stake in Equity Lifestyle Properties by 21.5% in the fourth quarter, bringing its holdings to 156,313 shares worth about $9.47 million.
• Equity Lifestyle Properties reported Q1 earnings of $0.56 per share, missing analyst expectations of $0.84, while revenue came in slightly above estimates at $397.62 million.
• The company declared a quarterly dividend of $0.5425 per share, equal to an annualized yield of 3.5%, even as its payout ratio remains elevated at 108.5%.

BNP Paribas Financial Markets raised its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 21.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 156,313 shares of the real estate investment trust's stock after acquiring an additional 27,614 shares during the period. BNP Paribas Financial Markets owned approximately 0.08% of Equity Lifestyle Properties worth $9,474,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Fermata Advisors LLC raised its holdings in shares of Equity Lifestyle Properties by 471.9% in the fourth quarter. Fermata Advisors LLC now owns 33,933 shares of the real estate investment trust's stock worth $2,057,000 after buying an additional 28,000 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Equity Lifestyle Properties by 11.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 337,948 shares of the real estate investment trust's stock worth $20,206,000 after purchasing an additional 34,946 shares during the last quarter. Argosy Lionbridge Management LLC purchased a new position in shares of Equity Lifestyle Properties during the third quarter worth $3,703,000. Thrivent Financial for Lutherans raised its holdings in shares of Equity Lifestyle Properties by 1,104.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 673,072 shares of the real estate investment trust's stock worth $40,794,000 after purchasing an additional 617,202 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Equity Lifestyle Properties by 10.8% during the third quarter. ProShare Advisors LLC now owns 586,269 shares of the real estate investment trust's stock worth $35,587,000 after purchasing an additional 56,913 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Stock Down 1.4%

ELS stock opened at $61.53 on Tuesday. The stock has a market capitalization of $11.93 billion, a P/E ratio of 30.77, a P/E/G ratio of 3.80 and a beta of 0.67. The firm has a 50-day simple moving average of $63.08 and a 200-day simple moving average of $63.57. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.28). The company had revenue of $397.62 million for the quarter, compared to analysts' expectations of $395.71 million. Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The firm'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. Equities analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, June 26th. Equity Lifestyle Properties's dividend payout ratio is currently 108.50%.

Wall Street Analyst Weigh In

ELS has been the subject of several recent research reports. Zacks Research raised shares of Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. Zelman & Associates initiated coverage on shares of Equity Lifestyle Properties in a report on Monday, March 16th. They set an "underperform" rating and a $59.25 target price for the company. Robert W. Baird raised their target price on shares of Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft raised 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 report on Wednesday, April 15th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $75.00 price objective (up from $72.00) on shares of Equity Lifestyle Properties in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Equity Lifestyle Properties presently has an average rating of "Moderate Buy" and a consensus target price of $69.20.

Insider Activity at Equity Lifestyle Properties

In related news, Director David J. Contis sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total transaction of $201,660.00. Following the sale, the director directly owned 14,890 shares of the company's stock, valued at $1,000,905.80. This represents a 16.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.

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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