Mitsubishi UFJ Asset Management Co. Ltd. Has $20.21 Million Stock Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Equity Lifestyle Properties by 11.5% in the fourth quarter, bringing its holdings to 337,948 shares worth about $20.2 million.
• Equity Lifestyle Properties reported quarterly EPS of $0.56, missing analyst expectations, while revenue came in at $397.6 million, slightly above estimates and up 2.7% year over year.
• The company declared a quarterly dividend of $0.5425 per share payable July 10, implying an annualized yield of about 3.4%; however, the payout ratio is high at 108.5%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 337,948 shares of the real estate investment trust's stock after acquiring an additional 34,946 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of Equity Lifestyle Properties worth $20,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ELS. Massachusetts Financial Services Co. MA grew its stake in shares of Equity Lifestyle Properties by 114.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,375,154 shares of the real estate investment trust's stock worth $326,272,000 after acquiring an additional 2,868,678 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Equity Lifestyle Properties by 253.7% in the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust's stock worth $191,025,000 after acquiring an additional 2,257,299 shares during the last quarter. Centersquare Investment Management LLC grew its stake in shares of Equity Lifestyle Properties by 2,448.8% in the third quarter. Centersquare Investment Management LLC now owns 1,963,378 shares of the real estate investment trust's stock worth $119,177,000 after acquiring an additional 1,886,348 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Equity Lifestyle Properties by 32.5% in the third quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust's stock worth $414,194,000 after acquiring an additional 1,674,281 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in shares of Equity Lifestyle Properties by 1,520.4% in the second quarter. Royal London Asset Management Ltd. now owns 1,771,803 shares of the real estate investment trust's stock worth $109,267,000 after acquiring an additional 1,662,458 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Equity Lifestyle Properties Stock Down 0.1%

Shares of NYSE ELS opened at $63.24 on Friday. The stock has a market cap of $12.26 billion, a PE ratio of 31.62, a PEG ratio of 3.85 and a beta of 0.69. The business has a fifty day moving average of $64.90 and a two-hundred day moving average of $63.45. Equity Lifestyle Properties, Inc. has a 52-week low of $58.15 and a 52-week high of $69.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.04 and a current ratio of 0.04.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.28). The company had revenue of $397.62 million for the quarter, compared to the consensus estimate of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. As a group, equities research analysts expect that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The firm 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 $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, June 26th. Equity Lifestyle Properties's payout ratio is currently 108.50%.

Wall Street Analyst Weigh In

ELS has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 price objective on the stock in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Equity Lifestyle Properties in a research report on Thursday, January 22nd. Zelman & Associates initiated coverage on Equity Lifestyle Properties in a research report on Monday, March 16th. They issued an "underperform" rating and a $59.25 target price for the company. Finally, Barclays reaffirmed an "overweight" rating and issued a $71.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Thursday, February 5th. 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.48.

Insider Activity

In related news, Director David J. Contis sold 3,000 shares of Equity Lifestyle Properties stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total value of $201,660.00. Following the completion of the transaction, the director directly owned 14,890 shares of the company's stock, valued at $1,000,905.80. The trade was a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.80% of the stock is owned by corporate insiders.

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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