Pictet Asset Management Holding SA Cuts Stock Holdings in Equity Lifestyle Properties, Inc. $ELS

Pictet Asset Management Holding SA reduced its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 58.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,111 shares of the real estate investment trust’s stock after selling 42,081 shares during the period. Pictet Asset Management Holding SA’s holdings in Equity Lifestyle Properties were worth $1,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GoalVest Advisory LLC purchased a new stake in Equity Lifestyle Properties during the 4th quarter worth about $25,000. Wiser Advisor Group LLC acquired a new position in shares of Equity Lifestyle Properties during the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd grew its position in shares of Equity Lifestyle Properties by 943.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 453 shares in the last quarter. Clearstead Trust LLC increased its stake in shares of Equity Lifestyle Properties by 74.8% during the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 231 shares during the period. Finally, Fulcrum Asset Management LLP acquired a new stake in Equity Lifestyle Properties in the third quarter valued at approximately $34,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Equity Lifestyle Properties to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings raised shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Mizuho initiated coverage on shares of Equity Lifestyle Properties in a research note on Tuesday, March 31st. They set an “outperform” rating and a $72.00 target price for the company. Truist Financial set a $67.00 target price on Equity Lifestyle Properties and gave the company a “hold” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen raised Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.20.

Equity Lifestyle Properties Stock Performance

Shares of Equity Lifestyle Properties stock opened at $66.17 on Monday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $69.00. The firm’s 50 day moving average is $63.09 and its two-hundred day moving average is $63.82. The firm has a market capitalization of $12.83 billion, a P/E ratio of 33.09, a P/E/G ratio of 4.03 and a beta of 0.66.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.28). Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The company had revenue of $397.62 million for the quarter, compared to analysts’ expectations of $395.71 million. During the same quarter in the prior year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a $0.5425 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $2.17 dividend on an annualized basis and a yield of 3.3%. Equity Lifestyle Properties’s payout ratio is 108.50%.

Equity Lifestyle Properties 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.