PNC Financial Services Group Inc. Has $1.45 Million Stake in Equity Lifestyle Properties, Inc. $ELS

PNC Financial Services Group Inc. increased its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 50.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,206 shares of the real estate investment trust’s stock after purchasing an additional 7,824 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Equity Lifestyle Properties were worth $1,449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wiser Advisor Group LLC acquired a new position in Equity Lifestyle Properties during the 3rd quarter worth $25,000. Caitong International Asset Management Co. Ltd boosted its position in Equity Lifestyle Properties by 943.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 453 shares during the last quarter. Clearstead Trust LLC increased its stake in shares of Equity Lifestyle Properties by 74.8% in the 4th quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 231 shares during the period. Fulcrum Asset Management LLP acquired a new stake in shares of Equity Lifestyle Properties in the 3rd quarter valued at $34,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Equity Lifestyle Properties during the fourth quarter worth $37,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ELS has been the topic of several research reports. Barclays reaffirmed an “equal weight” rating and set a $68.00 price target on shares of Equity Lifestyle Properties in a research note on Tuesday, July 14th. Robert W. Baird boosted their price objective on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, April 15th. Odeon Capital Group set a $65.00 target price on shares of Equity Lifestyle Properties in a research note on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $68.70.

Equity Lifestyle Properties Stock Down 3.1%

Shares of Equity Lifestyle Properties stock opened at $65.53 on Friday. The company has a quick ratio of 0.04, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. Equity Lifestyle Properties, Inc. has a 12 month low of $58.37 and a 12 month high of $69.00. The business has a fifty day simple moving average of $63.96 and a 200 day simple moving average of $64.38. The stock has a market cap of $12.72 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 4.11 and a beta of 0.66.

Equity Lifestyle Properties (NYSE:ELS) last released its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The company had revenue of $397.81 million during the quarter, compared to analyst estimates of $383.66 million. During the same period in the previous year, the company posted $0.69 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts predict that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 104.33%.

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.