Bank of New York Mellon Corp Sells 144,043 Shares of Equity Lifestyle Properties, Inc. $ELS

Bank of New York Mellon Corp decreased its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 9.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,461,779 shares of the real estate investment trust’s stock after selling 144,043 shares during the quarter. Bank of New York Mellon Corp’s holdings in Equity Lifestyle Properties were worth $91,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Wiser Advisor Group LLC bought a new position in Equity Lifestyle Properties in the 3rd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 in the last quarter. Clearstead Trust LLC raised its stake in shares of Equity Lifestyle Properties by 74.8% in the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 231 shares during the last quarter. Fulcrum Asset Management LLP bought a new position in shares of Equity Lifestyle Properties during the third quarter valued at $34,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Equity Lifestyle Properties during the fourth quarter valued at $37,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Stock Performance

Shares of ELS opened at $64.88 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.04 and a quick ratio of 0.04. Equity Lifestyle Properties, Inc. has a one year low of $58.15 and a one year high of $69.00. The firm has a market capitalization of $12.58 billion, a P/E ratio of 32.44, a PEG ratio of 3.97 and a beta of 0.66. The business has a fifty day moving average of $63.46 and a 200 day moving average of $64.09.

Equity Lifestyle Properties (NYSE:ELS) last posted 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). The firm had revenue of $397.62 million during the quarter, compared to the consensus estimate of $395.71 million. Equity Lifestyle Properties had a net margin of 24.99% and a return on equity of 21.22%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. As a group, sell-side analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a $0.5425 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 108.50%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company reduced their price objective on 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. Deutsche Bank Aktiengesellschaft raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Wednesday, April 15th. Odeon Capital Group set a $65.00 price target on shares of Equity Lifestyle Properties in a research note on Thursday, July 9th. Weiss Ratings raised shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Finally, Mizuho assumed coverage on shares of Equity Lifestyle Properties in a research report on Tuesday, March 31st. They set an “outperform” rating and a $72.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.70.

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.