Comerica Bank Sells 806 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Comerica Bank cut its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELSGet Rating) by 12.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,670 shares of the real estate investment trust’s stock after selling 806 shares during the quarter. Comerica Bank’s holdings in Equity LifeStyle Properties were worth $400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Xponance Inc. boosted its stake in Equity LifeStyle Properties by 22.6% in the second quarter. Xponance Inc. now owns 14,277 shares of the real estate investment trust’s stock valued at $1,006,000 after acquiring an additional 2,634 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Equity LifeStyle Properties by 70.1% during the second quarter. First Horizon Advisors Inc. now owns 546 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 225 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Equity LifeStyle Properties during the second quarter worth $203,000. US Bancorp DE boosted its position in shares of Equity LifeStyle Properties by 17.4% during the second quarter. US Bancorp DE now owns 17,524 shares of the real estate investment trust’s stock worth $1,235,000 after purchasing an additional 2,591 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Equity LifeStyle Properties by 14.3% during the second quarter. Victory Capital Management Inc. now owns 4,485,933 shares of the real estate investment trust’s stock worth $316,124,000 after purchasing an additional 561,057 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ELS has been the topic of a number of recent analyst reports. Barclays reduced their price target on shares of Equity LifeStyle Properties from $92.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, October 7th. StockNews.com began coverage on shares of Equity LifeStyle Properties in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. BMO Capital Markets cut their price objective on shares of Equity LifeStyle Properties from $87.00 to $75.00 in a research report on Tuesday, July 19th. Evercore ISI cut their price objective on shares of Equity LifeStyle Properties from $71.00 to $70.00 in a research report on Tuesday, September 27th. Finally, Robert W. Baird cut their price objective on shares of Equity LifeStyle Properties from $76.00 to $68.00 in a research report on Tuesday, October 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $76.00.

Equity LifeStyle Properties Stock Down 0.3 %

Shares of ELS stock opened at $61.34 on Tuesday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.39. Equity LifeStyle Properties, Inc. has a 1 year low of $56.91 and a 1 year high of $88.70. The firm’s fifty day moving average price is $65.15 and its two-hundred day moving average price is $70.43. The firm has a market capitalization of $11.42 billion, a P/E ratio of 40.89, a PEG ratio of 4.47 and a beta of 0.62.

Equity LifeStyle Properties (NYSE:ELSGet Rating) last issued its quarterly earnings results on Tuesday, October 18th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). Equity LifeStyle Properties had a net margin of 19.36% and a return on equity of 18.30%. The business had revenue of $381.00 million during the quarter, compared to analyst estimates of $375.16 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts predict that Equity LifeStyle Properties, Inc. will post 2.66 EPS for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 30th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, December 29th. This represents a $1.64 annualized dividend and a dividend yield of 2.67%. Equity LifeStyle Properties’s dividend payout ratio is presently 109.33%.

Equity LifeStyle Properties Profile

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We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 25, 2021, we own or have an interest in 423 quality properties in 33 states and British Columbia consisting of 161,229 sites.

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Institutional Ownership by Quarter for Equity LifeStyle Properties (NYSE:ELS)

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