Greenland Capital Management LP Has $516,000 Stock Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Greenland Capital Management cut its Equity Lifestyle Properties stake by 75% in the second quarter, selling 24,000 shares and retaining 8,000 shares valued at approximately $516,000.
• Institutional ownership remains substantial at 97.21%, with major investors including BlackRock, T. Rowe Price, Daiwa Securities, Cohen & Steers, and Norges Bank adding or initiating positions.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $68.52. ELS recently reported revenue growth but missed earnings expectations, while its quarterly dividend implies a 3.5% yield.

Greenland Capital Management LP reduced its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 75.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,000 shares of the real estate investment trust's stock after selling 24,000 shares during the period. Greenland Capital Management LP's holdings in Equity Lifestyle Properties were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Equity Lifestyle Properties in the 2nd quarter worth $1,576,449,000. Price T Rowe Associates Inc. MD lifted its position in Equity Lifestyle Properties by 303.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust's stock worth $966,648,000 after acquiring an additional 11,999,874 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Equity Lifestyle Properties by 253.7% during the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust's stock valued at $191,025,000 after acquiring an additional 2,257,299 shares during the period. Cohen & Steers Inc. boosted its holdings in Equity Lifestyle Properties by 26.8% during the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust's stock valued at $643,331,000 after acquiring an additional 2,246,622 shares during the period. Finally, Norges Bank acquired a new stake in shares of Equity Lifestyle Properties in the fourth quarter valued at about $125,352,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ELS shares. Morgan Stanley reiterated a "mixed" rating and issued a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Weiss Ratings raised Equity Lifestyle Properties from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, August 14th. Wells Fargo & Company dropped their price target on Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating on the stock in a research report on Monday, June 1st. Odeon Capital Group set a $65.00 price target on Equity Lifestyle Properties in a report on Thursday, July 9th. Finally, Barclays set a $69.00 price objective on Equity Lifestyle Properties and gave the company an "equal weight" rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and an average target price of $68.52.

Equity Lifestyle Properties Stock Performance

NYSE:ELS opened at $62.37 on Tuesday. The firm's 50-day moving average is $64.81 and its 200-day moving average is $64.43. Equity Lifestyle Properties, Inc. has a 52-week low of $58.72 and a 52-week high of $69.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.02 and a current ratio of 0.02. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 3.64 and a beta of 0.64.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The company had revenue of $397.81 million during the quarter, compared to the consensus estimate of $383.66 million. During the same quarter in the previous year, the business posted $0.69 EPS. The firm's quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be issued a $0.5425 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.17 annualized dividend and a yield of 3.5%. Equity Lifestyle Properties's dividend payout ratio is 104.33%.

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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