Pacer Advisors Inc. Has $456,000 Position in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Key Points

• Pacer Advisors Inc. has reduced its stake in Equity Lifestyle Properties by 75.6%, selling 21,150 shares and leaving it with 6,835 shares valued at approximately $456,000.
• The company announced a quarterly dividend of $0.515 per share, with a yield of 3.4%, set to be paid on October 10th.
• Equity Lifestyle Properties reported earnings of $0.69 per share for the recent quarter, meeting analysts' expectations, but its revenue of $313.29 million fell short of projections at $377.59 million.

Pacer Advisors Inc. lowered its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 75.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,835 shares of the real estate investment trust's stock after selling 21,150 shares during the quarter. Pacer Advisors Inc.'s holdings in Equity Lifestyle Properties were worth $456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELS. Beese Fulmer Investment Management Inc. increased its stake in Equity Lifestyle Properties by 2.6% during the first quarter. Beese Fulmer Investment Management Inc. now owns 7,995 shares of the real estate investment trust's stock valued at $533,000 after purchasing an additional 200 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Equity Lifestyle Properties by 0.7% in the 1st quarter. Xponance Inc. now owns 31,133 shares of the real estate investment trust's stock valued at $2,077,000 after buying an additional 203 shares during the period. Bessemer Group Inc. grew its position in shares of Equity Lifestyle Properties by 121.4% during the 4th quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 210 shares during the last quarter. GF Fund Management CO. LTD. lifted its holdings in Equity Lifestyle Properties by 6.8% in the first quarter. GF Fund Management CO. LTD. now owns 3,438 shares of the real estate investment trust's stock worth $229,000 after acquiring an additional 218 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Equity Lifestyle Properties by 7.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,256 shares of the real estate investment trust's stock valued at $217,000 after acquiring an additional 232 shares during the period. Hedge funds and other institutional investors own 97.21% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Royal Bank Of Canada dropped their price target on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Jefferies Financial Group initiated coverage on Equity Lifestyle Properties in a research note on Tuesday, April 8th. They set a "buy" rating and a $80.00 price objective for the company. BMO Capital Markets reduced their price target on shares of Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Compass Point raised Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a research report on Tuesday, July 22nd. Finally, Truist Financial cut their price target on Equity Lifestyle Properties from $71.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Equity Lifestyle Properties has a consensus rating of "Moderate Buy" and a consensus target price of $71.50.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS traded up $0.37 during midday trading on Friday, reaching $60.29. 2,200,136 shares of the company's stock were exchanged, compared to its average volume of 1,759,561. The company's 50 day simple moving average is $62.02 and its two-hundred day simple moving average is $64.48. The firm has a market capitalization of $11.68 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 3.20 and a beta of 0.70. Equity Lifestyle Properties, Inc. has a 12 month low of $58.15 and a 12 month high of $76.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.03 and a current ratio of 0.04.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.69 EPS for the quarter, hitting analysts' consensus estimates of $0.69. The company had revenue of $313.29 million during the quarter, compared to the consensus estimate of $377.59 million. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. The firm's revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. Equities research analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, September 26th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio (DPR) is 106.74%.

Insider Activity

In related news, CFO Paul Seavey sold 10,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total transaction of $647,200.00. Following the completion of the sale, the chief financial officer owned 78,162 shares in the company, valued at $5,058,644.64. This trade represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by company insiders.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.