Equity Lifestyle Properties, Inc. $ELS Stake Lessened by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 549,048 shares of the real estate investment trust's stock after selling 34,061 shares during the quarter. Hsbc Holdings PLC owned about 0.28% of Equity Lifestyle Properties worth $35,386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wiser Advisor Group LLC acquired a new position in shares of Equity Lifestyle Properties during the 3rd quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Equity Lifestyle Properties by 943.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 453 shares during the period. Clearstead Trust LLC boosted its stake in Equity Lifestyle Properties by 74.8% during the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 231 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in Equity Lifestyle Properties during the third quarter valued at about $34,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Equity Lifestyle Properties during the second quarter worth about $37,000. Institutional investors own 97.21% of the company's stock.

Equity Lifestyle Properties Stock Down 0.1%

Shares of Equity Lifestyle Properties stock opened at $62.37 on Tuesday. Equity Lifestyle Properties, Inc. has a 12-month low of $58.72 and a 12-month high of $69.00. The firm has a market capitalization of $12.10 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 3.64 and a beta of 0.64. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. The stock's fifty day moving average is $64.81 and its 200-day moving average is $64.43.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 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 during the quarter, compared to analyst estimates of $383.66 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. The business's quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.2 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, 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 3.5%. Equity Lifestyle Properties's dividend payout ratio (DPR) is presently 104.33%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays set a $69.00 price target on shares of Equity Lifestyle Properties and gave the stock an "equal weight" rating in a research report on Monday, August 17th. Odeon Capital Group set a $65.00 price objective on shares of Equity Lifestyle Properties in a research note on Thursday, July 9th. Morgan Stanley reiterated a "mixed" rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Wells Fargo & Company dropped their target price on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating on the stock in a report on Monday, June 1st. Finally, Jefferies Financial Group upgraded shares of Equity Lifestyle Properties to a "strong-buy" rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $68.52.

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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