Equity Lifestyle Properties, Inc. $ELS Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 15.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 63,660 shares of the real estate investment trust’s stock after selling 11,271 shares during the quarter. M&T Bank Corp’s holdings in Equity Lifestyle Properties were worth $3,926,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of Equity Lifestyle Properties by 12.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,620 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 178 shares during the period. GAMMA Investing LLC boosted its stake in Equity Lifestyle Properties by 10.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,069 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 201 shares during the period. Moran Wealth Management LLC grew its position in Equity Lifestyle Properties by 1.2% in the 2nd quarter. Moran Wealth Management LLC now owns 17,995 shares of the real estate investment trust’s stock worth $1,110,000 after purchasing an additional 220 shares during the last quarter. Qtron Investments LLC grew its position in Equity Lifestyle Properties by 4.5% in the 1st quarter. Qtron Investments LLC now owns 5,637 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 242 shares during the last quarter. Finally, Townsquare Capital LLC increased its position in Equity Lifestyle Properties by 2.0% in the 1st quarter. Townsquare Capital LLC now owns 12,756 shares of the real estate investment trust’s stock valued at $851,000 after acquiring an additional 251 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity Lifestyle Properties Trading Down 0.7%

Shares of ELS stock opened at $62.00 on Friday. The stock has a 50-day simple moving average of $61.88 and a 200 day simple moving average of $61.65. The stock has a market capitalization of $12.02 billion, a P/E ratio of 31.15, a P/E/G ratio of 3.48 and a beta of 0.78. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $70.55. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.27.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Equity Lifestyle Properties had a net margin of 24.97% and a return on equity of 20.99%. The firm had revenue of $393.31 million for the quarter, compared to analysts’ expectations of $389.39 million. During the same period in the previous year, the business earned $0.72 earnings per share. Equity Lifestyle Properties’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, sell-side analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, December 26th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 103.52%.

Analyst Ratings Changes

A number of research analysts have issued reports on ELS shares. Wells Fargo & Company reduced their price target on Equity Lifestyle Properties from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Morgan Stanley cut their price objective on shares of Equity Lifestyle Properties from $67.50 to $62.50 and set an “equal weight” rating on the stock in a research note on Thursday, September 4th. Evercore ISI decreased their target price on shares of Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating for the company in a research report on Thursday, October 23rd. Wall Street Zen raised shares of Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equity Lifestyle Properties in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Equity Lifestyle Properties presently has an average rating of “Moderate Buy” and a consensus target price of $70.14.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.