Convergence Investment Partners LLC Raises Stock Holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Convergence Investment Partners LLC boosted its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,886 shares of the real estate investment trust’s stock after buying an additional 884 shares during the quarter. Convergence Investment Partners LLC’s holdings in Equity Lifestyle Properties were worth $680,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ELS. Marshall Wace North America L.P. purchased a new stake in shares of Equity Lifestyle Properties during the 1st quarter valued at about $69,000. Guggenheim Capital LLC increased its position in shares of Equity Lifestyle Properties by 65.5% during the 4th quarter. Guggenheim Capital LLC now owns 174,278 shares of the real estate investment trust’s stock valued at $12,267,000 after purchasing an additional 68,987 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Equity Lifestyle Properties by 108.4% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,974 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 2,067 shares during the last quarter. Man Group plc increased its position in shares of Equity Lifestyle Properties by 1,210.3% during the 4th quarter. Man Group plc now owns 48,600 shares of the real estate investment trust’s stock valued at $3,421,000 after purchasing an additional 44,891 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Equity Lifestyle Properties by 105.2% during the 4th quarter. Alliancebernstein L.P. now owns 190,434 shares of the real estate investment trust’s stock valued at $13,405,000 after purchasing an additional 97,641 shares during the last quarter. 91.36% of the stock is owned by hedge funds and other institutional investors.

ELS stock traded up $0.78 during midday trading on Friday, hitting $68.32. The company’s stock had a trading volume of 1,160,188 shares, compared to its average volume of 793,668. Equity Lifestyle Properties, Inc. has a 12 month low of $41.97 and a 12 month high of $77.55. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 53.80, a price-to-earnings-growth ratio of 6.39 and a beta of 0.45. The company has a 50 day moving average of $63.96 and a two-hundred day moving average of $64.65.

Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, July 20th. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Equity Lifestyle Properties had a return on equity of 17.93% and a net margin of 22.19%. The business had revenue of $254.09 million during the quarter, compared to the consensus estimate of $251.55 million. During the same period in the prior year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Equity Lifestyle Properties, Inc. will post 2.13 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on ELS shares. BMO Capital Markets reaffirmed a “buy” rating and set a $72.00 price target (down previously from $76.00) on shares of Equity Lifestyle Properties in a research report on Monday, April 20th. Robert W. Baird raised shares of Equity Lifestyle Properties from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $65.00 to $72.00 in a report on Wednesday, July 22nd. Zacks Investment Research lowered shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a report on Friday, July 24th. Citigroup increased their target price on shares of Equity Lifestyle Properties from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Finally, TheStreet lowered shares of Equity Lifestyle Properties from a “b-” rating to a “c+” rating in a report on Monday, July 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $68.60.

Equity Lifestyle Properties Profile

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.

Recommended Story: Day Trading

Want to see what other hedge funds are holding ELS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Lifestyle Properties, Inc. (NYSE:ELS).

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

Receive News & Ratings for Equity Lifestyle Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Lifestyle Properties and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News