Swedbank AB Has $16.14 Million Holdings in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Swedbank AB reduced its stake in Equity Lifestyle Properties by 12.8% in the fourth quarter, selling 39,000 shares and ending with 266,305 shares worth about $16.14 million.
• ELS reported mixed quarterly results, with earnings of $0.56 per share missing analyst estimates, while revenue of $397.62 million slightly beat expectations and rose 2.7% year over year.
• The company maintained a dividend payout of $0.5425 per share for the quarter, implying a 3.4% yield, even as its payout ratio stood at a high 108.5%.

Swedbank AB cut its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 266,305 shares of the real estate investment trust's stock after selling 39,000 shares during the quarter. Swedbank AB owned 0.14% of Equity Lifestyle Properties worth $16,141,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fermata Advisors LLC lifted its stake in Equity Lifestyle Properties by 471.9% in the fourth quarter. Fermata Advisors LLC now owns 33,933 shares of the real estate investment trust's stock valued at $2,057,000 after buying an additional 28,000 shares during the period. Argosy Lionbridge Management LLC acquired a new position in Equity Lifestyle Properties in the third quarter valued at approximately $3,703,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Equity Lifestyle Properties by 11.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 337,948 shares of the real estate investment trust's stock valued at $20,206,000 after buying an additional 34,946 shares during the period. AEGON ASSET MANAGEMENT UK Plc lifted its stake in Equity Lifestyle Properties by 910.4% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 100,390 shares of the real estate investment trust's stock valued at $6,091,000 after buying an additional 90,454 shares during the period. Finally, ProShare Advisors LLC lifted its stake in Equity Lifestyle Properties by 10.8% in the third quarter. ProShare Advisors LLC now owns 586,269 shares of the real estate investment trust's stock valued at $35,587,000 after buying an additional 56,913 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Equity Lifestyle Properties

In other news, Director David J. Contis sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total transaction of $201,660.00. Following the completion of the sale, the director owned 14,890 shares in the company, 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 legal filing with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ELS. Royal Bank Of Canada reissued an "outperform" rating and issued a $70.00 price target on shares of Equity Lifestyle Properties in a research note on Friday, January 30th. BMO Capital Markets reissued an "outperform" rating and issued a $75.00 price target (up from $72.00) on shares of Equity Lifestyle Properties in a research note on Wednesday, February 18th. Robert W. Baird boosted their price objective on Equity Lifestyle Properties from $73.00 to $74.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Bank of America upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $76.00 price objective for the company in a report on Tuesday, February 3rd. Finally, Mizuho started coverage on Equity Lifestyle Properties in a report on Tuesday, March 31st. They set an "outperform" rating and a $72.00 price objective for the company. One 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.27.

Equity Lifestyle Properties Trading Up 0.1%

NYSE ELS opened at $63.60 on Tuesday. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 3.87 and a beta of 0.69. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $69.00. The business has a 50 day moving average price of $63.74 and a 200-day moving average price of $63.57. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.56 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.28). The firm 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 company's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. As a group, equities analysts expect that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.5425 per share. The ex-dividend date is Friday, June 26th. This represents a $2.17 annualized dividend and a dividend yield of 3.4%. Equity Lifestyle Properties's payout ratio is currently 108.50%.

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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