UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• UBS Asset Management reduced its Equity Lifestyle Properties position by 3.1% in the second quarter, selling 41,758 shares. It still held 1.32 million shares worth approximately $85.1 million, or 0.68% of the REIT.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $68.52. Price targets cited in the report ranged from $65 to $69.
• Equity Lifestyle Properties reported quarterly revenue of $397.81 million, up 5.5% year over year, though earnings of $0.50 per share missed estimates by $0.22. The company declared a quarterly dividend of $0.5425 per share, representing a 3.4% annualized yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,320,458 shares of the real estate investment trust's stock after selling 41,758 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.68% of Equity Lifestyle Properties worth $85,104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wiser Advisor Group LLC bought a new stake in Equity Lifestyle Properties in the 3rd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd boosted its position in Equity Lifestyle Properties by 943.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 453 shares during the period. Clearstead Trust LLC bought a new position in Equity Lifestyle Properties during the second quarter worth about $33,000. Fulcrum Asset Management LLP purchased a new position in shares of Equity Lifestyle Properties in the third quarter worth about $34,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Equity Lifestyle Properties in the second quarter valued at approximately $37,000. Institutional investors own 97.21% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays set a $69.00 price objective on shares of Equity Lifestyle Properties and gave the stock an "equal weight" rating in a report on Monday, August 17th. Jefferies Financial Group upgraded Equity Lifestyle Properties to a "strong-buy" rating in a research report on Wednesday, July 22nd. Odeon Capital Group set a $65.00 price target on Equity Lifestyle Properties in a research report on Thursday, July 9th. Weiss Ratings upgraded Equity Lifestyle Properties from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 14th. Finally, Wells Fargo & Company dropped their price objective on Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating on the stock in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Equity Lifestyle Properties has an average rating of "Moderate Buy" and an average price target of $68.52.

Equity Lifestyle Properties Stock Performance

Equity Lifestyle Properties stock opened at $63.14 on Thursday. Equity Lifestyle Properties, Inc. has a 1-year low of $58.72 and a 1-year high of $69.00. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $12.25 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 3.68 and a beta of 0.64. The firm's 50 day simple moving average is $64.89 and its 200 day simple moving average is $64.54.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $397.81 million during the quarter, compared to the consensus estimate of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 earnings per share. As a group, analysts expect that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be paid a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.17 annualized dividend and a yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio (DPR) is currently 104.33%.

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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