Swiss National Bank boosted its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 79.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 278,600 shares of the real estate investment trust’s stock after purchasing an additional 123,200 shares during the quarter. Swiss National Bank owned approximately 0.31% of Equity Lifestyle Properties worth $33,805,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Telemus Capital LLC lifted its position in shares of Equity Lifestyle Properties by 2.3% in the first quarter. Telemus Capital LLC now owns 6,154 shares of the real estate investment trust’s stock valued at $703,000 after acquiring an additional 138 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Equity Lifestyle Properties by 5.2% in the second quarter. Janney Montgomery Scott LLC now owns 3,285 shares of the real estate investment trust’s stock valued at $399,000 after acquiring an additional 161 shares in the last quarter. Signaturefd LLC lifted its position in shares of Equity Lifestyle Properties by 53.5% in the second quarter. Signaturefd LLC now owns 505 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 176 shares in the last quarter. Destination Wealth Management purchased a new stake in shares of Equity Lifestyle Properties in the second quarter valued at $26,000. Finally, First Interstate Bank purchased a new stake in shares of Equity Lifestyle Properties in the first quarter valued at $33,000. Institutional investors own 92.16% of the company’s stock.
Several brokerages have recently issued reports on ELS. Zacks Investment Research upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Wednesday, July 24th. BMO Capital Markets restated a “hold” rating and issued a $120.00 price objective on shares of Equity Lifestyle Properties in a research report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $112.25.
Equity Lifestyle Properties (NYSE:ELS) last released its earnings results on Monday, July 22nd. The real estate investment trust reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.02. Equity Lifestyle Properties had a return on equity of 22.00% and a net margin of 27.02%. The firm had revenue of $248.37 million for the quarter, compared to the consensus estimate of $244.91 million. During the same period in the prior year, the business posted $0.89 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts predict that Equity Lifestyle Properties, Inc. will post 4.2 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.613 per share. The ex-dividend date is Thursday, September 26th. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.61. This represents a $2.45 annualized dividend and a yield of 1.80%. Equity Lifestyle Properties’s dividend payout ratio is 63.31%.
In related news, EVP Roger Maynard sold 10,000 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president now directly owns 130,645 shares in the company, valued at $16,330,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul Seavey sold 7,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $124.80, for a total value of $873,600.00. Following the transaction, the chief financial officer now owns 71,571 shares in the company, valued at $8,932,060.80. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.
About Equity Lifestyle Properties
We are a self-administered, self-managed real estate investment trust (?REIT?) with headquarters in Chicago. As of January 28, 2019, we own or have an interest in 409 quality properties in 33 states and British Columbia consisting of 153,984 sites.
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