William Blair Investment Management LLC Decreases Stake in Equity Lifestyle Properties, Inc. $ELS

William Blair Investment Management LLC reduced its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 6.6% in the 4th quarter, HoldingsChannel.com reports. The firm 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’s holdings in Equity Lifestyle Properties were worth $36,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ELS. Daiwa Securities Group Inc. raised its position in shares of Equity Lifestyle Properties by 253.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock valued at $191,025,000 after purchasing an additional 2,257,299 shares during the last quarter. Centersquare Investment Management LLC raised its position in shares of Equity Lifestyle Properties by 2,448.8% in the 3rd quarter. Centersquare Investment Management LLC now owns 1,963,378 shares of the real estate investment trust’s stock valued at $119,177,000 after purchasing an additional 1,886,348 shares during the last quarter. Victory Capital Management Inc. raised its position in Equity Lifestyle Properties by 32.5% during the 3rd quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock worth $414,194,000 after buying an additional 1,674,281 shares during the last quarter. Royal London Asset Management Ltd. raised its position in Equity Lifestyle Properties by 1,520.4% during the 2nd quarter. Royal London Asset Management Ltd. now owns 1,771,803 shares of the real estate investment trust’s stock worth $109,267,000 after buying an additional 1,662,458 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC purchased a new position in Equity Lifestyle Properties during the 3rd quarter worth approximately $50,810,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ELS. Mizuho began coverage on shares of Equity Lifestyle Properties in a research report on Tuesday, March 31st. They set an “outperform” rating and a $72.00 price target for the company. Robert W. Baird raised their price target on shares of Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Bank of America raised shares of Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a research report on Tuesday, February 3rd. Zelman & Associates began coverage on shares of Equity Lifestyle Properties in a research report on Monday, March 16th. They set an “underperform” rating and a $59.25 price target for the company. Finally, BMO Capital Markets reissued an “outperform” rating and set a $75.00 price target (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, Equity Lifestyle Properties currently has a consensus rating of “Moderate Buy” and an average target price of $69.27.

Insider Activity at Equity Lifestyle Properties

In other news, Director David J. Contis sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total transaction of $201,660.00. Following the sale, the director 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 Securities & Exchange Commission, which is available through this link. 0.80% of the stock is owned by insiders.

Equity Lifestyle Properties Price Performance

Shares of NYSE ELS opened at $63.60 on Monday. The stock has a market capitalization of $12.33 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 3.87 and a beta of 0.69. Equity Lifestyle Properties, Inc. has a 12 month low of $58.15 and a 12 month high of $69.00. The firm’s 50 day simple moving average is $63.82 and its 200-day simple moving average is $63.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.04 and a quick ratio of 0.04.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings data 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). The firm had revenue of $397.62 million for the quarter, compared to analyst estimates of $395.71 million. Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.Equity Lifestyle Properties’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. Analysts expect that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current year.

Equity Lifestyle Properties Announces Dividend

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

Equity Lifestyle Properties 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.