William Blair Investment Management LLC Sells 41,996 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• William Blair Investment Management reduced its stake in Equity Lifestyle Properties by 6.6% in the fourth quarter, selling 41,996 shares and ending with 596,359 shares worth about $36.1 million.
• Wall Street sentiment remains constructive overall: analysts now have a consensus rating of “Moderate Buy” with an average price target of $69.27, while recent moves included upgrades from Bank of America and BMO Capital Markets.
• Equity Lifestyle Properties reported mixed quarterly results, missing EPS estimates with $0.56 versus $0.84 expected, but revenue came in slightly above expectations at $397.62 million and was up 2.7% year over year. The company also declared a quarterly dividend of $0.5425 per share, yielding about 3.4% annually.

William Blair Investment Management LLC cut its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 596,359 shares of the real estate investment trust's stock after selling 41,996 shares during the period. William Blair Investment Management LLC owned about 0.31% of Equity Lifestyle Properties worth $36,145,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wiser Advisor Group LLC bought a new position in shares of Equity Lifestyle Properties in the third quarter worth about $25,000. GoalVest Advisory LLC bought a new position in shares of Equity Lifestyle Properties in the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Equity Lifestyle Properties by 943.8% in 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 last quarter. Fulcrum Asset Management LLP bought a new position in shares of Equity Lifestyle Properties in the third quarter worth about $34,000. Finally, Bessemer Group Inc. grew its holdings in Equity Lifestyle Properties by 126.9% during the 3rd quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 321 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Bank of America upgraded shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $76.00 target price on the stock in a report on Tuesday, February 3rd. Truist Financial set a $67.00 target price on shares of Equity Lifestyle Properties and gave the stock a "hold" rating in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. BMO Capital Markets reiterated an "outperform" rating and set a $75.00 target price (up from $72.00) on shares of Equity Lifestyle Properties in a report on Wednesday, February 18th. Finally, Mizuho assumed coverage on shares of Equity Lifestyle Properties in a report on Tuesday, March 31st. They set an "outperform" rating and a $72.00 target price on the stock. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.27.

Equity Lifestyle Properties Stock Up 0.1%

NYSE:ELS opened at $63.60 on Monday. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $69.00. The stock has a market capitalization of $12.33 billion, a P/E ratio of 31.80, a P/E/G ratio of 3.87 and a beta of 0.69. 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's 50-day simple moving average is $63.82 and its 200-day simple moving average is $63.55.

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 earnings per share 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 during the quarter, compared to the consensus estimate of $395.71 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. The firm's quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, June 26th. Equity Lifestyle Properties's dividend payout ratio (DPR) is presently 108.50%.

Insider Activity at Equity Lifestyle Properties

In related news, Director David J. Contis sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total value of $201,660.00. Following the completion of the transaction, the director directly owned 14,890 shares of the company's stock, valued at $1,000,905.80. This trade represents a 16.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.80% of the stock is owned by insiders.

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.

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