Convergence Investment Partners LLC Increases Stake in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Convergence Investment Partners LLC increased its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 8.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,886 shares of the real estate investment trust’s stock after buying an additional 884 shares during the period. Convergence Investment Partners LLC’s holdings in Equity Lifestyle Properties were worth $680,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Equity Lifestyle Properties during the fourth quarter valued at about $114,170,000. JPMorgan Chase & Co. boosted its position in Equity Lifestyle Properties by 26.8% during the first quarter. JPMorgan Chase & Co. now owns 4,484,312 shares of the real estate investment trust’s stock valued at $257,760,000 after purchasing an additional 949,018 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Equity Lifestyle Properties by 23.1% during the first quarter. Nuveen Asset Management LLC now owns 4,367,869 shares of the real estate investment trust’s stock valued at $251,066,000 after purchasing an additional 819,371 shares in the last quarter. Legal & General Group Plc boosted its position in Equity Lifestyle Properties by 46.6% during the first quarter. Legal & General Group Plc now owns 1,741,555 shares of the real estate investment trust’s stock valued at $100,149,000 after purchasing an additional 553,542 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Equity Lifestyle Properties by 55.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,417,242 shares of the real estate investment trust’s stock valued at $81,463,000 after purchasing an additional 506,641 shares in the last quarter. Hedge funds and other institutional investors own 91.36% of the company’s stock.

NYSE ELS traded up $0.78 during 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. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.06 and a quick ratio of 0.06. Equity Lifestyle Properties, Inc. has a fifty-two week low of $41.97 and a fifty-two week high of $77.55. The company has a market cap of $12.44 billion, a PE ratio of 53.80, a P/E/G ratio of 6.39 and a beta of 0.45. The business’s 50 day simple moving average is $63.96 and its 200-day simple moving average is $64.65.

Equity Lifestyle Properties (NYSE:ELS) last released its earnings results on Monday, July 20th. The real estate investment trust reported $0.25 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $254.09 million during the quarter, compared to the consensus estimate of $251.55 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. Analysts expect that Equity Lifestyle Properties, Inc. will post 2.13 EPS for the current fiscal year.

A number of brokerages recently weighed in on ELS. BMO Capital Markets reaffirmed a “buy” rating and set a $72.00 price objective (down previously from $76.00) on shares of Equity Lifestyle Properties in a research report on Monday, April 20th. Zacks Investment Research downgraded Equity Lifestyle Properties from a “buy” rating to a “hold” rating in a report on Friday, July 24th. Citigroup raised their price target on Equity Lifestyle Properties from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Robert W. Baird raised Equity Lifestyle Properties from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $65.00 to $72.00 in a report on Wednesday, July 22nd. Finally, TheStreet downgraded 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 stock. Equity Lifestyle Properties has an average 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.

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

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