Groupe la Francaise Sells 54,876 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• Groupe la Francaise cut its ELS stake by 86.1%, selling 54,876 shares and retaining 8,823 shares valued at approximately $551,000. Institutional investors collectively own 97.21% of Equity Lifestyle Properties.
• Analyst sentiment remains broadly neutral, with the stock carrying a consensus “Hold” rating and an average price target of $68.70, versus a recent price of $65.18.
• Equity Lifestyle Properties missed quarterly EPS expectations, reporting $0.50 versus the $0.72 consensus, although revenue rose 5.5% year over year to $397.81 million. The company declared a quarterly dividend of $0.5425 per share, representing a 3.3% annualized yield.

Groupe la Francaise lessened its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 86.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,823 shares of the real estate investment trust's stock after selling 54,876 shares during the period. Groupe la Francaise's holdings in Equity Lifestyle Properties were worth $551,000 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 business. Bank of America Corp DE lifted its holdings in Equity Lifestyle Properties by 24.4% in the 1st quarter. Bank of America Corp DE now owns 1,980,918 shares of the real estate investment trust's stock worth $123,649,000 after buying an additional 388,806 shares during the period. Janus Henderson Group PLC increased its stake in shares of Equity Lifestyle Properties by 2.9% during the first quarter. Janus Henderson Group PLC now owns 831,809 shares of the real estate investment trust's stock valued at $51,924,000 after buying an additional 23,553 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Equity Lifestyle Properties by 67.3% during the first quarter. EverSource Wealth Advisors LLC now owns 726 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 292 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Equity Lifestyle Properties by 9.3% during the first quarter. Royal Bank of Canada now owns 560,685 shares of the real estate investment trust's stock valued at $34,997,000 after acquiring an additional 47,608 shares in the last quarter. Finally, Resolution Capital Ltd raised its holdings in shares of Equity Lifestyle Properties by 3.3% during the first quarter. Resolution Capital Ltd now owns 1,885,292 shares of the real estate investment trust's stock valued at $117,680,000 after acquiring an additional 59,809 shares in the last quarter. Institutional investors own 97.21% of the company's stock.

Analyst Ratings Changes

ELS has been the topic of several recent analyst reports. Weiss Ratings cut shares of Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday. Truist Financial set a $67.00 target price on shares of Equity Lifestyle Properties and gave the stock a "hold" rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft raised shares of Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 target price on the stock in a research note on Wednesday, April 15th. Wall Street Zen raised shares of Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating for the company in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $68.70.

Equity Lifestyle Properties Price Performance

Shares of ELS stock opened at $65.18 on Friday. The business's fifty day moving average is $63.99 and its 200 day moving average is $64.38. The company has a quick ratio of 0.04, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 3.96 and a beta of 0.66. Equity Lifestyle Properties, Inc. has a twelve month low of $58.37 and a twelve month high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings data 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 net margin of 25.92% and a return on equity of 22.31%. The firm had revenue of $397.81 million for the quarter, compared to analysts' expectations of $383.66 million. During the same period in the prior year, the business posted $0.69 EPS. The business's quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts expect that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, September 25th. Equity Lifestyle Properties's dividend payout ratio (DPR) 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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