Horizon Kinetics Asset Management LLC Trims Stake in Equity Lifestyle Properties, Inc. $ELS

Horizon Kinetics Asset Management LLC reduced its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 39.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,970 shares of the real estate investment trust’s stock after selling 16,200 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Equity Lifestyle Properties were worth $1,513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ELS. GoalVest Advisory LLC purchased a new position in Equity Lifestyle Properties during the 4th quarter worth $25,000. Wiser Advisor Group LLC purchased a new position in Equity Lifestyle Properties during the 3rd quarter worth $25,000. Caitong International Asset Management Co. Ltd increased its holdings in Equity Lifestyle Properties by 943.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 453 shares during the period. Clearstead Trust LLC increased 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 purchasing an additional 231 shares during the period. Finally, Fulcrum Asset Management LLP purchased a new position in Equity Lifestyle Properties during the 3rd quarter worth $34,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director David J. Contis sold 3,000 shares of Equity Lifestyle Properties stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total value of $201,660.00. Following the transaction, the director owned 14,890 shares of the company’s stock, valued at $1,000,905.80. The trade was a 16.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ELS. Mizuho began coverage on shares of Equity Lifestyle Properties in a report on Tuesday, March 31st. They set an “outperform” rating and a $72.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Wednesday, April 15th. Weiss Ratings lowered shares of Equity Lifestyle Properties from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Barclays cut their price objective on shares of Equity Lifestyle Properties from $71.00 to $68.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, Zelman & Associates initiated coverage on shares of Equity Lifestyle Properties in a report on Monday, March 16th. They set an “underperform” rating and a $59.25 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.20.

Equity Lifestyle Properties Stock Up 1.7%

Shares of Equity Lifestyle Properties stock opened at $64.44 on Thursday. The firm’s 50 day moving average price is $63.14 and its 200-day moving average price is $63.61. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29. Equity Lifestyle Properties, Inc. has a 52-week low of $58.15 and a 52-week high of $69.00. The company has a market cap of $12.50 billion, a P/E ratio of 32.22, a PEG ratio of 3.85 and a beta of 0.67.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share (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 firm had revenue of $397.62 million during the quarter, compared to analysts’ expectations of $395.71 million. During the same period in the previous year, the firm earned $0.57 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

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 given 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 dividend yield of 3.4%. Equity Lifestyle Properties’s payout ratio is presently 108.50%.

About Equity Lifestyle Properties

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.