Northern Trust Corp Acquires 107,351 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

Northern Trust Corp boosted its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 13.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 925,551 shares of the real estate investment trust’s stock after purchasing an additional 107,351 shares during the period. Northern Trust Corp owned about 1.02% of Equity Lifestyle Properties worth $112,306,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aperio Group LLC lifted its stake in Equity Lifestyle Properties by 10.6% during the second quarter. Aperio Group LLC now owns 33,466 shares of the real estate investment trust’s stock worth $4,061,000 after purchasing an additional 3,210 shares during the last quarter. Redpoint Investment Management Pty Ltd lifted its stake in Equity Lifestyle Properties by 30.1% during the second quarter. Redpoint Investment Management Pty Ltd now owns 7,685 shares of the real estate investment trust’s stock worth $932,000 after purchasing an additional 1,779 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Equity Lifestyle Properties by 1.6% during the second quarter. Russell Investments Group Ltd. now owns 669,201 shares of the real estate investment trust’s stock worth $80,852,000 after purchasing an additional 10,822 shares during the last quarter. Nordea Investment Management AB bought a new stake in Equity Lifestyle Properties during the first quarter worth $4,344,000. Finally, BB&T Corp lifted its stake in Equity Lifestyle Properties by 12.5% during the second quarter. BB&T Corp now owns 13,376 shares of the real estate investment trust’s stock worth $1,623,000 after purchasing an additional 1,484 shares during the last quarter. Hedge funds and other institutional investors own 94.63% of the company’s stock.

Separately, Zacks Investment Research upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Equity Lifestyle Properties has a consensus rating of “Hold” and a consensus target price of $112.25.

In related news, EVP Roger Maynard sold 10,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive vice president now directly owns 130,645 shares in the company, valued at $16,330,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Seavey sold 7,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $124.80, for a total value of $873,600.00. Following the completion of the sale, the chief financial officer now owns 71,571 shares of the company’s stock, valued at $8,932,060.80. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

Shares of NYSE:ELS traded down $1.71 during trading on Friday, hitting $130.50. 124,812 shares of the company were exchanged, compared to its average volume of 412,176. The business’s 50 day moving average is $131.49 and its 200-day moving average is $121.36. The company has a market capitalization of $11.71 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 4.29 and a beta of 0.23. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.15. Equity Lifestyle Properties, Inc. has a 1-year low of $90.90 and a 1-year high of $138.92.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.02. The company had revenue of $248.37 million during the quarter, compared to the consensus estimate of $244.91 million. Equity Lifestyle Properties had a net margin of 27.02% and a return on equity of 22.00%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. As a group, sell-side analysts anticipate that Equity Lifestyle Properties, Inc. will post 4.2 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.613 per share. The ex-dividend date of this dividend is Thursday, September 26th. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.61. This represents a $2.45 annualized dividend and a dividend yield of 1.88%. Equity Lifestyle Properties’s dividend payout ratio is 63.31%.

About Equity Lifestyle Properties

We are a self-administered, self-managed real estate investment trust (“REIT”) with headquarters in Chicago. As of January 28, 2019, we own or have an interest in 409 quality properties in 33 states and British Columbia consisting of 153,984 sites.

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

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