American International Group Inc. Sells 66 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)
American International Group Inc. reduced its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,739 shares of the real estate investment trust’s stock after selling 66 shares during the period. American International Group Inc.’s holdings in Equity Lifestyle Properties were worth $134,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ELS. Sit Investment Associates Inc. raised its position in Equity Lifestyle Properties by 103.8% in the first quarter. Sit Investment Associates Inc. now owns 2,650 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 1,350 shares during the period. Capstone Asset Management Co. acquired a new position in Equity Lifestyle Properties during the first quarter valued at about $207,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Equity Lifestyle Properties during the first quarter valued at about $222,000. Profund Advisors LLC raised its position in Equity Lifestyle Properties by 0.3% in the first quarter. Profund Advisors LLC now owns 3,199 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 8 shares during the period. Finally, 1st Global Advisors Inc. raised its position in Equity Lifestyle Properties by 4.0% in the first quarter. 1st Global Advisors Inc. now owns 3,217 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 96.61% of the company’s stock.
Equity Lifestyle Properties, Inc. (NYSE ELS) opened at 86.47 on Monday. The stock has a market capitalization of $7.52 billion, a PE ratio of 42.91 and a beta of 0.31. Equity Lifestyle Properties, Inc. has a 52-week low of $65.87 and a 52-week high of $88.16. The firm’s 50-day moving average is $86.25 and its 200 day moving average is $80.98.
Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $221.30 million for the quarter, compared to analyst estimates of $209.80 million. Equity Lifestyle Properties had a net margin of 22.00% and a return on equity of 20.64%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. On average, equities analysts forecast that Equity Lifestyle Properties, Inc. will post $2.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.4875 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.95 annualized dividend and a yield of 2.26%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 97.02%.
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ELS has been the topic of several recent research reports. TheStreet upgraded shares of Equity Lifestyle Properties from a “c+” rating to a “b” rating in a research report on Monday, April 17th. Zacks Investment Research upgraded shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, June 13th. BidaskClub lowered shares of Equity Lifestyle Properties from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $81.00 price target (up previously from $75.00) on shares of Equity Lifestyle Properties in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $83.25.
In other news, Chairman Samuel Zell bought 805,333 shares of the business’s stock in a transaction on Friday, July 21st. The shares were bought at an average cost of $87.43 per share, for a total transaction of $70,410,264.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Howard Walker sold 1,608 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $82.11, for a total transaction of $132,032.88. Following the completion of the sale, the insider now owns 57,265 shares in the company, valued at $4,702,029.15. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.
About Equity Lifestyle Properties
Equity LifeStyle Properties, Inc is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (properties) consisting primarily of manufactured home (MH) communities and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations and Home Sales and Rentals Operations.
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