PNC Financial Services Group Inc. Has $1.45 Million Stock Position in Equity Lifestyle Properties, Inc. $ELS

PNC Financial Services Group Inc. lifted its position in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 50.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 23,206 shares of the real estate investment trust’s stock after buying an additional 7,824 shares during the period. PNC Financial Services Group Inc.’s holdings in Equity Lifestyle Properties were worth $1,449,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Empowered Funds LLC increased its holdings in shares of Equity Lifestyle Properties by 14.1% in the first quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock worth $435,000 after acquiring an additional 804 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Equity Lifestyle Properties by 598.5% during the 1st quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock valued at $7,964,000 after purchasing an additional 102,303 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Equity Lifestyle Properties by 62.3% during the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust’s stock valued at $1,542,000 after purchasing an additional 8,873 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Equity Lifestyle Properties by 111.0% in the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust’s stock valued at $624,000 after purchasing an additional 5,325 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Equity Lifestyle Properties in the 2nd quarter valued at approximately $300,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity Lifestyle Properties Trading Down 3.1%

NYSE ELS opened at $65.53 on Friday. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 4.11 and a beta of 0.66. The stock’s 50 day moving average price is $63.96 and its two-hundred day moving average price is $64.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.04 and a current ratio of 0.02. Equity Lifestyle Properties, Inc. has a 52 week low of $58.37 and a 52 week high of $69.00.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The business had revenue of $397.81 million for the quarter, compared to the consensus estimate of $383.66 million. During the same period in the prior year, the business earned $0.69 earnings per share. Equity Lifestyle Properties’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 104.33%.

Wall Street Analyst Weigh In

Several analysts have commented on ELS shares. Jefferies Financial Group upgraded shares of Equity Lifestyle Properties to a “strong-buy” rating in a report on Wednesday, July 22nd. Wall Street Zen raised shares of Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Wednesday, April 15th. Truist Financial set a $67.00 price objective on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a research report on Tuesday, May 5th. Finally, Odeon Capital Group set a $65.00 target price on shares of Equity Lifestyle Properties in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.70.

Equity Lifestyle Properties Company 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.