Intech Investment Management LLC Lowers Stock Position in Equity Lifestyle Properties, Inc. $ELS

Intech Investment Management LLC reduced its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 77.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,403 shares of the real estate investment trust’s stock after selling 56,007 shares during the period. Intech Investment Management LLC’s holdings in Equity Lifestyle Properties were worth $994,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ELS. Empowered Funds LLC raised its stake in Equity Lifestyle Properties by 14.1% during the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock valued at $435,000 after purchasing an additional 804 shares during the period. Jane Street Group LLC raised its stake in Equity Lifestyle Properties by 598.5% during the 1st quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock valued at $7,964,000 after purchasing an additional 102,303 shares during the period. Cetera Investment Advisers raised its stake in Equity Lifestyle Properties by 111.0% during the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust’s stock valued at $624,000 after purchasing an additional 5,325 shares during the period. Gamco Investors INC. ET AL bought a new stake in Equity Lifestyle Properties during the 2nd quarter valued at approximately $300,000. Finally, Gabelli Funds LLC bought a new stake in Equity Lifestyle Properties during the 2nd quarter valued at approximately $1,298,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director David J. Contis sold 3,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total transaction of $201,660.00. Following the transaction, the director owned 14,890 shares of the company’s stock, valued at approximately $1,000,905.80. This represents a 16.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

ELS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Wednesday, April 15th. Wall Street Zen raised Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Wells Fargo & Company reduced their price objective on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Barclays reduced their price objective on Equity Lifestyle Properties from $71.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Finally, Zelman & Associates assumed coverage on Equity Lifestyle Properties in a research report on Monday, March 16th. They issued an “underperform” rating and a $59.25 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.20.

Equity Lifestyle Properties Stock Performance

ELS stock opened at $62.41 on Monday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $63.11 and its two-hundred day simple moving average is $63.58. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $69.00. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 3.80 and a beta of 0.67.

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

Equity Lifestyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given 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 3.5%. Equity Lifestyle Properties’s dividend payout ratio is presently 108.50%.

Equity Lifestyle Properties Company 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.