Equity Lifestyle Properties, Inc. $ELS Holdings Cut by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 549,048 shares of the real estate investment trust’s stock after selling 34,061 shares during the period. Hsbc Holdings PLC’s holdings in Equity Lifestyle Properties were worth $35,386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ELS. Wiser Advisor Group LLC purchased a new position in Equity Lifestyle Properties in the third quarter valued at about $25,000. Caitong International Asset Management Co. Ltd increased 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 worth $30,000 after purchasing an additional 453 shares during the last quarter. Clearstead Trust LLC purchased a new stake in shares of Equity Lifestyle Properties during the 2nd quarter worth about $33,000. Fulcrum Asset Management LLP acquired a new stake in shares of Equity Lifestyle Properties during the 3rd quarter valued at about $34,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Equity Lifestyle Properties during the 2nd quarter valued at about $37,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ELS. Wells Fargo & Company cut their price objective on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 14th. Barclays set a $69.00 price objective on shares of Equity Lifestyle Properties and gave the stock an “equal weight” rating in a report on Monday, August 17th. Finally, Odeon Capital Group set a $65.00 target price on shares of Equity Lifestyle Properties in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.52.

Equity Lifestyle Properties Stock Down 0.1%

ELS opened at $62.37 on Tuesday. The firm has a market cap of $12.10 billion, a P/E ratio of 29.99, a price-to-earnings-growth ratio of 3.64 and a beta of 0.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.02 and a current ratio of 0.02. The business has a 50 day moving average price of $64.81 and a 200 day moving average price of $64.43. Equity Lifestyle Properties, Inc. has a twelve month low of $58.72 and a twelve month high of $69.00.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS 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 for the quarter, compared to analyst estimates of $383.66 million. During the same quarter last year, the business earned $0.69 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.2 EPS for the current year.

Equity Lifestyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be paid a $0.5425 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a yield of 3.5%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 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.