State Board of Administration of Florida Retirement System Reduces Position in Equity Lifestyle Properties, Inc. (ELS)

State Board of Administration of Florida Retirement System lessened its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,603 shares of the real estate investment trust’s stock after selling 3,650 shares during the period. State Board of Administration of Florida Retirement System owned 0.15% of Equity Lifestyle Properties worth $11,639,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELS. Schwab Charles Investment Management Inc. grew its stake in Equity Lifestyle Properties by 4.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,463,382 shares of the real estate investment trust’s stock valued at $130,324,000 after acquiring an additional 63,201 shares in the last quarter. Westpac Banking Corp grew its stake in Equity Lifestyle Properties by 13.9% during the 4th quarter. Westpac Banking Corp now owns 18,800 shares of the real estate investment trust’s stock valued at $1,674,000 after acquiring an additional 2,300 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Equity Lifestyle Properties during the 4th quarter valued at about $754,000. State of Alaska Department of Revenue grew its stake in Equity Lifestyle Properties by 12.9% during the 4th quarter. State of Alaska Department of Revenue now owns 31,670 shares of the real estate investment trust’s stock valued at $2,818,000 after acquiring an additional 3,610 shares in the last quarter. Finally, APG Asset Management US Inc. grew its stake in Equity Lifestyle Properties by 4.5% during the 4th quarter. APG Asset Management US Inc. now owns 1,076,000 shares of the real estate investment trust’s stock valued at $95,786,000 after acquiring an additional 46,500 shares in the last quarter. 98.08% of the stock is owned by institutional investors.

Equity Lifestyle Properties opened at $86.36 on Friday, MarketBeat.com reports. Equity Lifestyle Properties, Inc. has a 1-year low of $79.78 and a 1-year high of $91.94. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market capitalization of $7.71 billion, a PE ratio of 23.93, a PEG ratio of 4.73 and a beta of 0.19.

Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, April 23rd. The real estate investment trust reported $1.04 earnings per share for the quarter, meeting the consensus estimate of $1.04. Equity Lifestyle Properties had a net margin of 22.20% and a return on equity of 20.26%. The business had revenue of $246.00 million during the quarter, compared to analysts’ expectations of $232.72 million. During the same quarter in the prior year, the company posted $1.00 EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. equities analysts forecast that Equity Lifestyle Properties, Inc. will post 3.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be paid a $0.55 dividend. The ex-dividend date is Thursday, June 28th. This represents a $2.20 annualized dividend and a dividend yield of 2.55%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 61.11%.

In related news, Chairman Samuel Zell acquired 20,000 shares of the firm’s stock in a transaction dated Friday, April 27th. The shares were purchased at an average cost of $89.56 per share, for a total transaction of $1,791,200.00. Following the acquisition, the chairman now owns 305,427 shares in the company, valued at approximately $27,354,042.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Roger Maynard sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $85.22, for a total transaction of $852,200.00. Following the completion of the transaction, the executive vice president now owns 161,489 shares in the company, valued at $13,762,092.58. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

ELS has been the subject of several research reports. Zacks Investment Research cut shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. TheStreet raised shares of Equity Lifestyle Properties from a “c+” rating to a “b-” rating in a research note on Tuesday, May 1st. BMO Capital Markets set a $95.00 price objective on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a research note on Tuesday, January 30th. ValuEngine raised shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Cantor Fitzgerald set a $85.00 price objective on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $91.00.

Equity Lifestyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (?REIT?) with headquarters in Chicago. As of January 29, 2018, we own or have an interest in 406 quality properties in 32 states and British Columbia consisting of 151,323 sites.

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

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