Union Bancaire Privee UBP SA Takes Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Union Bancaire Privee UBP SA opened a new position in Equity Lifestyle Properties in Q1, buying 31,307 shares valued at about $1.95 million.
• ELS reported Q1 earnings of $0.56 per share, missing analyst estimates, while revenue came in at $397.62 million, slightly above expectations and up 2.7% year over year.
• The company declared a quarterly dividend of $0.5425 per share, equal to a $2.17 annualized payout and a 3.4% yield, while analysts currently rate the stock a Moderate Buy with an average target price of $69.20.

Union Bancaire Privee UBP SA acquired a new position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 31,307 shares of the real estate investment trust's stock, valued at approximately $1,954,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Equity Lifestyle Properties by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust's stock valued at $1,544,190,000 after acquiring an additional 592,013 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Equity Lifestyle Properties by 303.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust's stock valued at $966,648,000 after purchasing an additional 11,999,874 shares in the last quarter. Cohen & Steers Inc. raised its holdings in shares of Equity Lifestyle Properties by 26.8% in the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust's stock worth $643,331,000 after buying an additional 2,246,622 shares during the last quarter. Victory Capital Management Inc. raised its holdings 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 buying an additional 1,674,281 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Equity Lifestyle Properties by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 4,712,562 shares of the real estate investment trust's stock worth $285,048,000 after buying an additional 100,364 shares during the period. Institutional investors and hedge funds own 97.21% of the company's stock.

Equity Lifestyle Properties Stock Performance

ELS opened at $64.35 on Friday. The firm has a fifty day moving average price of $63.02 and a 200 day moving average price of $63.66. Equity Lifestyle Properties, Inc. has a 1 year low of $58.15 and a 1 year high of $69.00. The stock has a market cap of $12.48 billion, a P/E ratio of 32.18, a P/E/G ratio of 3.91 and a beta of 0.67. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.04 and a quick ratio of 0.04.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings results 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 analyst estimates 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 EPS. Equities research analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current 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 paid a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, June 26th. Equity Lifestyle Properties's payout ratio is currently 108.50%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ELS shares. Truist Financial set a $67.00 target price on Equity Lifestyle Properties and gave the company a "hold" rating in a research report on Tuesday, May 5th. Zelman & Associates assumed coverage on Equity Lifestyle Properties in a research note on Monday, March 16th. They set an "underperform" rating and a $59.25 price target on the stock. Weiss Ratings lowered Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, June 8th. Jefferies Financial Group upgraded Equity Lifestyle Properties to a "strong-buy" rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft raised shares of Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 target price for the company in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and an average target price of $69.20.

About Equity Lifestyle Properties

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.

Want to see what other hedge funds are holding ELS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report).

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.