Sei Investments Co. Grows Position in Equity Lifestyle Properties, Inc. (ELS)
Sei Investments Co. increased its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 17.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,511 shares of the real estate investment trust’s stock after buying an additional 41,498 shares during the period. Sei Investments Co. owned 0.32% of Equity Lifestyle Properties worth $25,872,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in ELS. Waratah Capital Advisors Ltd. bought a new position in Equity Lifestyle Properties in the first quarter worth about $30,248,000. Schroder Investment Management Group raised its stake in Equity Lifestyle Properties by 27.0% in the first quarter. Schroder Investment Management Group now owns 1,553,700 shares of the real estate investment trust’s stock worth $136,369,000 after buying an additional 330,485 shares in the last quarter. Millennium Management LLC raised its stake in Equity Lifestyle Properties by 310.0% in the first quarter. Millennium Management LLC now owns 393,052 shares of the real estate investment trust’s stock worth $34,498,000 after buying an additional 297,196 shares in the last quarter. Pwmco LLC bought a new position in Equity Lifestyle Properties in the second quarter worth about $15,802,000. Finally, Resolution Capital Ltd raised its stake in Equity Lifestyle Properties by 17.1% in the second quarter. Resolution Capital Ltd now owns 1,156,225 shares of the real estate investment trust’s stock worth $106,257,000 after buying an additional 168,500 shares in the last quarter. 96.08% of the stock is owned by institutional investors.
ELS has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a research note on Monday, April 16th. TheStreet raised shares of Equity Lifestyle Properties from a “c+” rating to a “b-” rating in a research note on Tuesday, May 1st. Finally, ValuEngine downgraded shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a research note on Thursday, May 17th. One investment 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 company presently has a consensus rating of “Hold” and a consensus target price of $91.00.
Equity Lifestyle Properties (NYSE:ELS) last announced its earnings results on Monday, July 23rd. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.02). Equity Lifestyle Properties had a net margin of 22.25% and a return on equity of 20.05%. The business had revenue of $240.50 million for the quarter, compared to the consensus estimate of $224.20 million. During the same period in the prior year, the business posted $0.81 EPS. Equity Lifestyle Properties’s revenue for the quarter was up 8.7% on a year-over-year basis. sell-side analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Friday, September 28th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, September 27th. Equity Lifestyle Properties’s dividend payout ratio is 61.11%.
In other Equity Lifestyle Properties news, Director David J. Contis sold 3,304 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $90.95, for a total transaction of $300,498.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is currently owned by company insiders.
About Equity Lifestyle Properties
We are a self-administered, self-managed real estate investment trust (?REIT?) with headquarters in Chicago. As of April 23, 2018, we own or have an interest in 409 quality properties in 32 states and British Columbia consisting of 152,658 sites.
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