Equity Lifestyle Properties, Inc. $ELS Shares Sold by ProShare Advisors LLC

Key Points

• ProShare Advisors LLC cut its stake in Equity Lifestyle Properties by 10.7% in the fourth quarter, selling 62,540 shares and leaving it with 523,729 shares valued at about $31.7 million.
• Insider selling and institutional ownership remain notable: Director David J. Contis sold 3,000 shares in March, while hedge funds and other institutions own 97.21% of the company’s stock.
• Equity Lifestyle Properties missed quarterly earnings expectations, reporting $0.56 EPS versus the $0.84 consensus, though revenue of $397.6 million slightly topped estimates. The company also declared a quarterly dividend of $0.5425 per share, implying a 3.4% yield.

ProShare Advisors LLC reduced its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 523,729 shares of the real estate investment trust's stock after selling 62,540 shares during the period. ProShare Advisors LLC owned 0.27% of Equity Lifestyle Properties worth $31,743,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC purchased a new position in shares of Equity Lifestyle Properties in the 4th quarter valued at $25,000. Wiser Advisor Group LLC acquired a new position in Equity Lifestyle Properties in the third quarter valued at $25,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Equity Lifestyle Properties by 943.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 453 shares during the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of Equity Lifestyle Properties during the third quarter worth about $34,000. Finally, Bessemer Group Inc. increased its position in shares of Equity Lifestyle Properties by 126.9% during the third quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Insiders Place Their Bets

In related news, Director David J. Contis sold 3,000 shares of Equity Lifestyle Properties stock in a transaction on Wednesday, March 18th. The shares were 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 in the company, valued at $1,000,905.80. This trade represents a 16.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ELS shares. Zacks Research raised Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. Robert W. Baird lifted their price target on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Barclays reduced their price objective on Equity Lifestyle Properties from $71.00 to $68.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Bank of America raised Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $76.00 price objective for the company in a report on Tuesday, February 3rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Equity Lifestyle Properties in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.27.

Equity Lifestyle Properties Stock Performance

NYSE ELS opened at $62.99 on Thursday. The firm has a market cap of $12.22 billion, a P/E ratio of 31.49, a P/E/G ratio of 3.83 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 business's 50-day moving average price is $63.98 and its 200 day moving average price is $63.52. 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 (NYSE:ELS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.56 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.28). Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The company had revenue of $397.62 million for the quarter, compared to analysts' expectations of $395.71 million. During the same period in the prior year, the company earned $0.57 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. On average, equities research analysts expect that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.17 annualized dividend and a dividend yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio (DPR) is currently 108.50%.

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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