Greenland Capital Management LP Sells 24,000 Shares of Equity Lifestyle Properties, Inc. $ELS

by · The Markets Daily

Greenland Capital Management LP lowered its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS – Free Report) by 75.0% during the second quarter, Holdings Channel reports. The institutional investor owned 8,000 shares of the real estate investment trust’s stock after selling 24,000 shares during the quarter. Greenland Capital Management LP’s holdings in Equity Lifestyle Properties were worth $516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of ELS. HB Wealth Management LLC raised its stake in shares of Equity Lifestyle Properties by 10.0% in the 2nd quarter. HB Wealth Management LLC now owns 4,216 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 384 shares in the last quarter. AlphaGrep UK Ltd acquired a new stake in shares of Equity Lifestyle Properties during the 2nd quarter valued at about $390,000. NEOS Investment Management LLC boosted its position in shares of Equity Lifestyle Properties by 13.2% during the 2nd quarter. NEOS Investment Management LLC now owns 40,814 shares of the real estate investment trust’s stock valued at $2,630,000 after acquiring an additional 4,769 shares in the last quarter. Nykredit A S bought a new stake in Equity Lifestyle Properties in the second quarter valued at about $768,000. Finally, Beacon Pointe Advisors LLC bought a new stake in Equity Lifestyle Properties in the second quarter valued at about $311,000. Institutional investors own 97.21% of the company’s stock.

Equity Lifestyle Properties Stock Down 0.1%

Shares of ELS opened at $62.37 on Tuesday. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 29.99, a PEG 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’s fifty day moving average price is $64.81 and its two-hundred day moving average price is $64.43. Equity Lifestyle Properties, Inc. has a 52 week low of $58.72 and a 52 week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS – Get Free Report) last released its 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). The firm had revenue of $397.81 million during the quarter, compared to analyst estimates of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. On average, analysts predict that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 104.33%.

Analysts Set New Price Targets

ELS has been the subject of several recent research reports. 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 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 research note on Monday, August 17th. Wells Fargo & Company dropped 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, Morgan Stanley reiterated a “mixed” rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.52.

Get Our Latest Stock Analysis on Equity Lifestyle Properties

About Equity Lifestyle Properties

(Free Report)

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.

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