Honeywell International Inc. lowered its position in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 31.7% during the second quarter, Holdings Channel reports. The institutional investor owned 21,345 shares of the real estate investment trust’s stock after selling 9,925 shares during the period. Honeywell International Inc.’s holdings in Equity Lifestyle Properties were worth $1,843,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of ELS. Vanguard Group Inc. raised its stake in shares of Equity Lifestyle Properties by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,493,430 shares of the real estate investment trust’s stock worth $962,743,000 after buying an additional 312,465 shares in the last quarter. BlackRock Inc. raised its stake in shares of Equity Lifestyle Properties by 4,674.0% in the first quarter. BlackRock Inc. now owns 6,050,846 shares of the real estate investment trust’s stock worth $466,277,000 after buying an additional 5,924,100 shares in the last quarter. State Street Corp raised its stake in shares of Equity Lifestyle Properties by 0.7% in the first quarter. State Street Corp now owns 2,532,651 shares of the real estate investment trust’s stock worth $195,168,000 after buying an additional 17,329 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Equity Lifestyle Properties by 2.7% in the second quarter. Daiwa Securities Group Inc. now owns 1,860,764 shares of the real estate investment trust’s stock worth $160,658,000 after buying an additional 48,991 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Equity Lifestyle Properties by 91.2% in the first quarter. JPMorgan Chase & Co. now owns 1,627,214 shares of the real estate investment trust’s stock worth $125,393,000 after buying an additional 775,969 shares in the last quarter. 96.61% of the stock is currently owned by hedge funds and other institutional investors.
Equity Lifestyle Properties, Inc. (NYSE:ELS) opened at 86.83 on Wednesday. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 43.09 and a beta of 0.31. The stock has a 50 day moving average of $86.42 and a 200 day moving average of $81.12. Equity Lifestyle Properties, Inc. has a 52 week low of $65.87 and a 52 week high of $88.16.
Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings data on Monday, July 17th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. Equity Lifestyle Properties had a return on equity of 20.64% and a net margin of 22.00%. The company had revenue of $221.30 million during the quarter, compared to the consensus estimate of $209.80 million. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Equity Lifestyle Properties, Inc. will post $2.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.4875 dividend. This represents a $1.95 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, September 28th. Equity Lifestyle Properties’s dividend payout ratio is currently 97.02%.
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ELS has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, June 13th. Evercore ISI increased their price objective on shares of Equity Lifestyle Properties from $74.00 to $77.00 and gave the stock an “underperform” rating in a report on Tuesday, April 18th. Cantor Fitzgerald reissued a “neutral” rating and set a $81.00 price objective (up previously from $75.00) on shares of Equity Lifestyle Properties in a report on Saturday, July 22nd. TheStreet raised shares of Equity Lifestyle Properties from a “c+” rating to a “b” rating in a report on Monday, April 17th. Finally, BidaskClub raised shares of Equity Lifestyle Properties from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $83.25.
In other news, Chairman Samuel Zell acquired 805,333 shares of the stock in a transaction dated Friday, July 21st. The stock was bought at an average price of $87.43 per share, with a total value of $70,410,264.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Howard Walker sold 1,608 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $82.11, for a total value of $132,032.88. Following the completion of the transaction, the insider now directly owns 57,265 shares of the company’s stock, valued at approximately $4,702,029.15. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.
Equity Lifestyle Properties Company Profile
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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