Hsbc Holdings PLC Makes New Investment in Equity Lifestyle Properties, Inc. $ELS

Hsbc Holdings PLC purchased a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 549,048 shares of the real estate investment trust’s stock, valued at approximately $35,386,000.

A number of other institutional investors have also modified their holdings of the company. Wiser Advisor Group LLC purchased a new position in shares of Equity Lifestyle Properties during the third quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd grew its stake in Equity Lifestyle Properties by 943.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 453 shares during the period. Clearstead Trust LLC purchased a new stake in Equity Lifestyle Properties in the 2nd quarter worth approximately $33,000. Fulcrum Asset Management LLP acquired a new position in Equity Lifestyle Properties in the 3rd quarter valued at $34,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Equity Lifestyle Properties during the 2nd quarter worth $37,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ELS shares. Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the stock a “hold” rating in a report on Tuesday, May 5th. Morgan Stanley reiterated a “mixed” rating and issued a $59.00 target price (down from $62.50) on shares of Equity Lifestyle Properties in a research note on Wednesday, August 12th. Weiss Ratings upgraded Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 14th. Jefferies Financial Group raised Equity Lifestyle Properties to a “strong-buy” rating in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company lowered their price target on Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.52.

Equity Lifestyle Properties Stock Down 1.2%

Shares of ELS opened at $63.89 on Friday. The firm has a market cap of $12.40 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 3.77 and a beta of 0.64. The company’s fifty day moving average is $64.83 and its two-hundred day moving average is $64.62. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.72 and a fifty-two week high of $69.00. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31.

Equity Lifestyle Properties (NYSE:ELS) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.22). The company had revenue of $397.81 million for the quarter, compared to analysts’ expectations of $383.66 million. Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. Analysts forecast that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be given a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, September 25th. Equity Lifestyle Properties’s payout ratio is 104.33%.

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.