Vanderbilt University Sells 26,092 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• Vanderbilt University cut its stake in Equity Lifestyle Properties by 45.7% in the first quarter, selling 26,092 shares and leaving it with 31,057 shares valued at about $1.94 million.
• Despite the sale, institutional ownership remains very high, with investors holding 97.21% of the company. Several other funds increased positions during the quarter.
• Equity Lifestyle Properties recently reported mixed quarterly results, with EPS of $0.56 missing estimates while revenue came in slightly above expectations. The company also announced a quarterly dividend of $0.5425 per share, yielding 3.4%.

Vanderbilt University cut its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 45.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,057 shares of the real estate investment trust's stock after selling 26,092 shares during the quarter. Vanderbilt University's holdings in Equity Lifestyle Properties were worth $1,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC raised its position in Equity Lifestyle Properties by 13.7% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,253 shares of the real estate investment trust's stock valued at $390,000 after buying an additional 752 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings in Equity Lifestyle Properties by 23.3% during the 1st quarter. Miller Howard Investments Inc. NY now owns 799,961 shares of the real estate investment trust's stock worth $49,934,000 after acquiring an additional 151,390 shares during the last quarter. Bar Harbor Wealth Management grew its stake in shares of Equity Lifestyle Properties by 12.1% in the 1st quarter. Bar Harbor Wealth Management now owns 100,667 shares of the real estate investment trust's stock worth $6,284,000 after acquiring an additional 10,830 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Equity Lifestyle Properties by 4.5% in the 1st quarter. SG Americas Securities LLC now owns 197,457 shares of the real estate investment trust's stock worth $12,325,000 after acquiring an additional 8,559 shares in the last quarter. Finally, Purpose Unlimited Inc. bought a new stake in shares of Equity Lifestyle Properties in the 4th quarter worth $106,000. Institutional investors own 97.21% of the company's stock.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS opened at $63.40 on Thursday. The company's 50-day moving average is $63.06 and its 200 day moving average is $63.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.04 and a current ratio of 0.04. The company has a market capitalization of $12.30 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 3.81 and a beta of 0.67. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.28). The company 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%. Equity Lifestyle Properties's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. On average, equities research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, June 26th. This represents a $2.17 annualized dividend and a yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio is presently 108.50%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ELS shares. Deutsche Bank Aktiengesellschaft raised shares of Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 price target on the stock in a research report on Wednesday, April 15th. Truist Financial set a $67.00 price objective on shares of Equity Lifestyle Properties and gave the stock a "hold" rating in a research report on Tuesday, May 5th. Zelman & Associates initiated coverage on shares of Equity Lifestyle Properties in a research note on Monday, March 16th. They issued an "underperform" rating and a $59.25 price objective for the company. Weiss Ratings cut shares of Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, June 8th. Finally, Mizuho initiated coverage on Equity Lifestyle Properties in a research note on Tuesday, March 31st. They issued an "outperform" rating and a $72.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned 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 a consensus target price of $69.20.

Equity Lifestyle Properties Company 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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