UBS Group AG Sells 789,610 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• UBS Group AG cut its stake in Equity Lifestyle Properties by 35.1% in Q4, selling 789,610 shares and now owns 1,462,993 shares (about a 0.75% stake) valued at roughly $88.7 million.
• Equity Lifestyle missed Q1 EPS ($0.56 vs. $0.84 estimate) though revenue was slightly ahead, and it declared a quarterly dividend of $0.5425 ($2.17 annual, ~3.5% yield) with a payout ratio of 108.5%.
• Institutional investors own a high 97.21% of the stock, and analysts give a consensus rating of "Moderate Buy" with an average price target of $69.63 (market cap ≈ $12.18B, P/E 31.4).

UBS Group AG lowered its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 35.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,462,993 shares of the real estate investment trust's stock after selling 789,610 shares during the period. UBS Group AG owned approximately 0.75% of Equity Lifestyle Properties worth $88,672,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Equity Lifestyle Properties by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust's stock worth $1,544,190,000 after purchasing an additional 592,013 shares during the period. Victory Capital Management Inc. grew its position in 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 valued at $414,194,000 after acquiring an additional 1,674,281 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 valued at $326,272,000 after acquiring an additional 2,868,678 shares during the last quarter. Daiwa Securities Group Inc. grew its position in 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 valued at $191,025,000 after acquiring an additional 2,257,299 shares during the last quarter. Finally, Boston Partners grew its position in Equity Lifestyle Properties by 2.1% in the third quarter. Boston Partners now owns 2,902,967 shares of the real estate investment trust's stock valued at $176,227,000 after acquiring an additional 60,852 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

Equity Lifestyle Properties Stock Performance

Shares of ELS stock opened at $62.80 on Friday. The business's 50-day moving average price is $65.19 and its 200-day moving average price is $63.43. Equity Lifestyle Properties, Inc. has a 12 month low of $58.15 and a 12 month high of $69.00. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 3.82 and a beta of 0.69. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.29.

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

Equity Lifestyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, June 26th. Equity Lifestyle Properties's dividend payout ratio (DPR) is presently 108.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ELS shares. BMO Capital Markets reiterated an "outperform" rating and issued a $75.00 target price (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $70.00 target price on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. Zelman & Associates started coverage on Equity Lifestyle Properties in a research report on Monday, March 16th. They issued an "underperform" rating and a $59.25 target price on the stock. Zacks Research upgraded Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 target price on the stock in a research report on Wednesday, April 15th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.63.

Insider Activity at Equity Lifestyle Properties

In other 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 transaction of $201,660.00. Following the sale, the director directly owned 14,890 shares of the company's stock, valued at approximately $1,000,905.80. This trade represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.