Bank of New York Mellon Corp Sells 59,719 Shares of Equity Lifestyle Properties, Inc. $ELS

Bank of New York Mellon Corp reduced its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 3.6% in the fourth quarter, Holdings Channel reports. The fund owned 1,605,822 shares of the real estate investment trust’s stock after selling 59,719 shares during the quarter. Bank of New York Mellon Corp’s holdings in Equity Lifestyle Properties were worth $97,329,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ELS. Vanguard Group Inc. lifted its holdings in shares of Equity Lifestyle Properties by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust’s stock valued at $1,544,190,000 after acquiring an additional 592,013 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Equity Lifestyle Properties by 32.5% in the 3rd quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock worth $414,194,000 after purchasing an additional 1,674,281 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Equity Lifestyle Properties by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 4,712,562 shares of the real estate investment trust’s stock worth $285,048,000 after purchasing an additional 100,364 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Equity Lifestyle Properties by 253.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock valued at $191,025,000 after purchasing an additional 2,257,299 shares during the last quarter. Finally, Boston Partners boosted its stake in Equity Lifestyle Properties by 2.1% during the third quarter. Boston Partners now owns 2,902,967 shares of the real estate investment trust’s stock worth $176,227,000 after buying an additional 60,852 shares during the period. Institutional investors own 97.21% of the company’s stock.

Insider Buying and Selling

In related news, Director David J. Contis sold 3,000 shares of the 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 in the company, valued at approximately $1,000,905.80. This represents a 16.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is currently owned by corporate insiders.

Equity Lifestyle Properties Price Performance

NYSE ELS opened at $61.53 on Tuesday. The firm’s fifty day simple moving average is $63.08 and its two-hundred day simple moving average is $63.57. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $69.00. The firm has a market capitalization of $11.93 billion, a P/E ratio of 30.77, a P/E/G ratio of 3.80 and a beta of 0.67. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.29.

Equity Lifestyle Properties (NYSE:ELS) last released its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.28). The business had revenue of $397.62 million during the quarter, compared to analysts’ expectations of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. Analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a $0.5425 dividend. The ex-dividend date is Friday, June 26th. 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 108.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ELS shares. Zelman & Associates assumed coverage on Equity Lifestyle Properties in a report on Monday, March 16th. They issued an “underperform” rating and a $59.25 price target on the stock. BMO Capital Markets restated an “outperform” rating and set a $75.00 price objective (up from $72.00) on shares of Equity Lifestyle Properties in a report on Wednesday, February 18th. Barclays cut their price objective on Equity Lifestyle Properties from $71.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Wells Fargo & Company decreased their price objective on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Equity Lifestyle Properties presently has a consensus rating of “Moderate Buy” and an average price target of $69.20.

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.