Horizon Kinetics Asset Management LLC Reduces Holdings in Equity Lifestyle Properties, Inc. $ELS

Horizon Kinetics Asset Management LLC decreased its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 39.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 24,970 shares of the real estate investment trust’s stock after selling 16,200 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Equity Lifestyle Properties were worth $1,513,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ELS. GoalVest Advisory LLC purchased a new stake in shares of Equity Lifestyle Properties during the fourth quarter worth about $25,000. Wiser Advisor Group LLC purchased a new stake in shares of Equity Lifestyle Properties during the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Equity Lifestyle Properties by 943.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 453 shares during the last quarter. Clearstead Trust LLC grew its stake in shares of Equity Lifestyle Properties by 74.8% during the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 231 shares during the last quarter. Finally, Fulcrum Asset Management LLP purchased a new stake in shares of Equity Lifestyle Properties during the third quarter worth about $34,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Insider Buying and Selling

In other Equity Lifestyle Properties news, Director David J. Contis sold 3,000 shares of the company’s stock in a transaction 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 sale, the director directly owned 14,890 shares of the company’s stock, valued at approximately $1,000,905.80. This represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

ELS has been the topic of several research analyst reports. Wall Street Zen upgraded Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, April 15th. Mizuho initiated coverage on Equity Lifestyle Properties in a research note on Tuesday, March 31st. They set an “outperform” rating and a $72.00 price target on the stock. Zacks Research upgraded Equity Lifestyle Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, Truist Financial set a $67.00 price target on Equity Lifestyle Properties and gave the company a “hold” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Equity Lifestyle Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.20.

Equity Lifestyle Properties Price Performance

NYSE:ELS opened at $64.44 on Thursday. Equity Lifestyle Properties, Inc. has a one year low of $58.15 and a one year high of $69.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 3.85 and a beta of 0.67. The firm’s fifty day moving average is $63.14 and its two-hundred day moving average is $63.61.

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

Equity Lifestyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, June 26th. Equity Lifestyle Properties’s dividend payout ratio is presently 108.50%.

Equity Lifestyle Properties Profile

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.