Y Intercept Hong Kong Ltd Purchases 26,389 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Equity Lifestyle Properties by 357.2% in the first quarter, buying an additional 26,389 shares for a total holding of 33,776 shares worth about $2.11 million.
• Equity Lifestyle Properties reported Q1 EPS of $0.56, well below analyst expectations of $0.84, though revenue came in slightly ahead of estimates at $397.62 million and rose 2.7% year over year.
• The REIT announced a quarterly dividend of $0.5425 per share to be paid July 10, implying an annualized yield of 3.4%; analysts currently rate the stock a consensus Moderate Buy with an average target price of $69.20.

Y Intercept Hong Kong Ltd raised its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 357.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,776 shares of the real estate investment trust's stock after purchasing an additional 26,389 shares during the period. Y Intercept Hong Kong Ltd's holdings in Equity Lifestyle Properties were worth $2,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. GoalVest Advisory LLC bought a new stake in shares of Equity Lifestyle Properties during the fourth quarter worth approximately $25,000. Wiser Advisor Group LLC bought a new position in Equity Lifestyle Properties in the third quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $30,000 after acquiring an additional 453 shares during the last quarter. Clearstead Trust LLC grew its holdings in Equity Lifestyle Properties by 74.8% during the 4th quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 231 shares during the period. Finally, Fulcrum Asset Management LLP acquired a new stake in Equity Lifestyle Properties during the 3rd quarter worth $34,000. Institutional investors own 97.21% of the company's stock.

Equity Lifestyle Properties Stock Down 2.3%

NYSE:ELS opened at $63.85 on Thursday. Equity Lifestyle Properties, Inc. has a 1 year low of $58.15 and a 1 year high of $69.00. The stock has a 50-day moving average price of $63.18 and a two-hundred day moving average price of $63.88. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 3.98 and a beta of 0.66. 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 released 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 return on equity of 21.22% and a net margin of 24.99%.The business had revenue of $397.62 million for the quarter, compared to analyst estimates of $395.71 million. During the same period in the prior year, the business earned $0.57 EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts expect that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings upgraded Equity Lifestyle Properties from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft raised Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 target price on the stock in a research note on Wednesday, April 15th. Jefferies Financial Group upgraded Equity Lifestyle Properties to a "strong-buy" rating in a report on Friday, June 26th. Wells Fargo & Company decreased their target price on Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating for the company in a research report on Monday, June 1st. Finally, Zelman & Associates assumed coverage on Equity Lifestyle Properties in a research note on Monday, March 16th. They issued an "underperform" rating and a $59.25 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and an average price target 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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