Equity Lifestyle Properties, Inc. $ELS Stock Sold by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments reduced its Equity Lifestyle Properties position by 2.4%, selling 19,206 shares and retaining 773,322 shares valued at approximately $45.1 million. Institutional investors collectively own 97.21% of ELS.
• Analysts maintain a generally cautious outlook, with ELS carrying an average “Hold” rating and a consensus price target of $67.09. Recent targets range from $59 to $68, while UBS maintained a “Buy” rating despite cutting its target to $67.
• ELS was trading near $61.03, within its 52-week range of $57.46 to $69.00. Its latest quarterly revenue rose 4.2% year over year to $409.9 million, but adjusted earnings of $0.45 per share missed analyst estimates of $0.79.

Miller Howard Investments Inc. NY trimmed its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 773,322 shares of the real estate investment trust's stock after selling 19,206 shares during the quarter. Miller Howard Investments Inc. NY owned approximately 0.40% of Equity Lifestyle Properties worth $45,108,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Versant Capital Management Inc purchased a new position in shares of Equity Lifestyle Properties in the 3rd quarter worth about $26,000. Parkside Financial Bank & Trust increased its position in shares of Equity Lifestyle Properties by 126.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 415 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 232 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Equity Lifestyle Properties by 122.0% during the 3rd quarter. Mather Group LLC. now owns 535 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 294 shares in the last quarter. YANKCOM Partnership raised its holdings in shares of Equity Lifestyle Properties by 44.9% during the 3rd quarter. YANKCOM Partnership now owns 549 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 170 shares in the last quarter. Finally, Clearstead Trust LLC purchased a new position in shares of Equity Lifestyle Properties during the 2nd quarter valued at about $33,000. 97.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on ELS. Evercore set a $68.00 price target on shares of Equity Lifestyle Properties in a research report on Monday, September 21st. Morgan Stanley restated a "mixed" rating and issued a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Wells Fargo & Company set a $64.00 price objective on shares of Equity Lifestyle Properties and gave the stock an "equal weight" rating in a report on Monday, October 19th. Barclays set a $66.00 price objective on shares of Equity Lifestyle Properties and gave the company an "equal weight" rating in a research note on Wednesday, October 14th. Finally, UBS Group reduced their target price on shares of Equity Lifestyle Properties from $76.00 to $67.00 and set a "buy" rating on the stock in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Equity Lifestyle Properties currently has an average rating of "Hold" and an average price target of $67.09.

Equity Lifestyle Properties Trading Up 0.3%

ELS opened at $61.03 on Tuesday. The stock has a market cap of $11.84 billion, a PE ratio of 30.07, a PEG ratio of 3.49 and a beta of 0.63. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $61.24 and a 200-day moving average of $63.56. Equity Lifestyle Properties, Inc. has a 52 week low of $57.46 and a 52 week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The real estate investment trust reported $0.45 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.34). The firm had revenue of $409.90 million for the quarter, compared to analysts' expectations of $402.75 million. Equity Lifestyle Properties had a net margin of 24.97% and a return on equity of 21.73%. The business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. Equities research analysts predict that Equity Lifestyle Properties, Inc. will post 3.19 earnings per share for the current fiscal year.

Equity Lifestyle Properties Profile

Equity LifeStyle Properties, Inc NYSE: ELS is a real estate investment trust that owns, operates and manages manufactured housing communities, recreational vehicle resorts and campgrounds, and marinas. Its properties are designed to provide residential and vacation accommodations, with offerings that range from long-term manufactured home sites to seasonal and transient RV sites and boat storage.

The company serves residents, vacationers and boat owners across the United States. Its portfolio is concentrated in locations with favorable climates, recreational appeal and access to coastal, lakefront or other leisure destinations.

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