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Posts Tagged ‘Manufactured Home Community Sector’

ELS Shares Down, Bank of Montreal Acquires New Stake

October 4th, 2016 Comments off
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Credit: ELS logo, used on MHProNews under fair use guidelines.

Equity Lifestyle Properties, Inc. (NYSE:ELS) stock was down 1.74% on September 30th, hitting a price of $77.18, which has raised concerns for some traders who wonder – is part of a new pattern?

According to the Press Telegraph, analysts expect earnings of $0.83 per share, which would be an increase of 7.79% from last year’s earnings of $0.77 per share. The next ELS earnings call is scheduled for October 17th.

Information from The Market Digest indicates that traders have been “relatively bearishon ELS over the last 4 weeks. But the stock went down only 1.6%.  Compared to the S&P 500 over the same period and the stock price has fallen 3.46% over the past week.

ELS stock is expected to deviate a maximum of $7.57 from the average target price of $78.33 for the short-term period. Experts have initiated coverage on the stock with the high target of $87.00 according to The Market Digest.

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ELS 1 year view. Credit: Bloomberg

As Daily Business News readers are aware, we recently covered ELS, their dividend updates and their September 8th acquisition in Ellenton, FL. The company has a market cap of $6.83 billion, and is one of the manufactured home industry connected stocks tracked every business day by the Daily Business News, with the most recent report, linked here.

Bank of Montreal Acquires New Stake

According to Baseball News Source, the Bank of Montreal Can acquired 162,197 shares of ELS, valued at $12,984,000 according to its most recent 13F filing with the SEC.

After the SEC filing, Montreal Can owned about 0.19% of ELS. A number of other investors adjusted their stakes in the company:

  • Norges Bank acquired a new stake during the fourth quarter valued at approximately $43,997,000.
  • NN Investment Partners Holdings N.V. acquired a new stake during the first quarter valued at approximately $33,005,000.
  • Goldman Sachs Group Inc. boosted its stake by 25.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,556,487 shares of the company’s stock valued at $113,204,000 after buying an additional 311,786 shares during the period.
  • Renaissance Technologies LLC boosted its stake by 18.7% in the first quarter and now owns 1,026,300 shares of the company’s stock valued at $74,643,000 after buying an additional 161,600 shares during the period.
  • State Street Corp boosted its stake by 3.0% in the first quarter. State Street Corp now owns 2,457,328 shares of the company’s stock valued at $178,722,000 after buying an additional 72,727 shares during the period.

Institutional investors currently own some 94.83% of ELS stock.

A number of research firms have weighed in on ELS.

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

Credit: Baseball News Source

BMO Capital Markets reissued a “hold” rating and issued a $77.00 target price on shares in a report on Thursday, July 28th.

Citigroup Inc. increased their target price on ELS from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, July 7th.

Cantor Fitzgerald reissued a “hold” rating on shares of Equity Lifestyle Properties in a report on Saturday, June 4th.

As manufactured housing professionals, investors and enthusiasts know, ELS is a REIT – a Real Estate Investment Trust – and is one of the largest owner/operators of manufactured home communities and RV parks in the nation. The Daily Business News will continue to follow ELS closely. ##

(Image credits are as shown.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

 

Equity LifeStyle Properties Investor Management Fund, Dividend Updates

September 29th, 2016 Comments off
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Credit: ELS logo, used on MHProNews under fair use guidelines.

Equity Lifestyle Properties, Inc. (NYSE:ELS) is expected to pay a $0.43 dividend on Oct 14, 2016.

ELS shareholders owning stock before Sep 28, 2016 will be eligible to receive the payout. Based on Equity Lifestyle Properties, Inc.’s current price of $79.70, the dividend is 0.53%. The indicated annual dividend is $1.70.

As manufactured housing professionals, investors and enthusiasts know, ELS is a REIT – a Real Estate Investment Trust – and is one of the largest owner/operators of manufactured home communities and RV parks in the nation.

EquityLifestylePropertiesExpectedToPayDividendOnOctober14thels-california-hawaiian-san-jose-calif-mhvillage-creditManufacturedHousingIndustryDailyBusinessNewsMHProNews

Credit: MHProNews

The company has a market cap of $6.83 billion, and is one of the manufactured home industry connected stocks tracked every business day by the Daily Business News, with the most recent report, linked here.

According to Kentucky Post News, ELS stock decreased 0.41% or $0.33 on September 26, hitting $79.70, has risen 13.68% since February 23, 2016 and is trending upward. It has outperformed by 1.98% the S&P500.

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ELS 1 year Stock Performance. Credit: Bloomberg

The next ELS earnings call is scheduled for October 17th at 4pm ET.

Sample Investor Breakouts:

  • Resolution Capital Ltd holds 5.63% of its portfolio in Equity Lifestyle Properties, Inc. equal to 1.07 million shares.
  • Irving Magee Investment Management owns 141,811 shares or 5.54% of their US portfolio.
  • First Western Capital Management Co has 3.83% invested in the company for 130,859 shares.
  • The New York-based Waterfront Capital Partners LLC has invested 2.41% in the stock.
  • Independent Order Of Foresters, a Ontario – Canada-based fund reported 29,956 shares.
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Ridgewood Estates. Credit: ELS & MHProNews

The Daily Business News has covered ELS in depth for years, including their recent September 8th acquisition in Ellenton, FL.

Additionally, our exclusive report on Sam Zell’s views of the MHC industry are linked here. ##

(Image credits are as shown.)

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RC WIlliams, for Daily Business News, MHProNews.

MH Industry Market Report by RC Williams to the Daily Business News for MHProNews.

Quo Vadis ELS? Analysts Look at Hotly-Traded Equity LIfeStyle Properties Stock

August 31st, 2016 Comments off

QuoVadisELS-postedDailyBusinessNews-MHProNewsTuesday, 8.30.2016 saw some 194,207 shares Equity Lifestyle Properties, Inc. (NYSE:ELS) trade hands, says the PressTelegraph. But their headline on this date erred in say “stock dropped,” as Yahoo! Finance confirmed the Daily Business News’ Bloomberg supplied ticker’s report that ELS’ stock was up, closing at 77.79, +0.19 (+0.24%).

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InvestorNewswire states that the consensus rating on ELS by analysts covering the stock stood at 2. That numeric value is based upon a simplified ratings scale of 1-5, where 1 represents a Strong Buy, and 5 is a Strong Sell. So 2 is a buy.

Current projections range from $73 to $87 with the average sitting at $78.333. ELS will be doing its quarterly report on 10.17.2016.

ELSEquityLifeStylePropertiesTicker8.30.2016-creditBloomberg-postedDailyBusinessnewsMHProNews

Bloomberg Ticker for ELS today, posted on the Daily Business News market report.

As manufactured housing professionals, investors and enthusiasts know, ELS is REIT and one of the largest owner/operators of manufactured home communities and RV parks.

A prior report on ELS reported by Frank Griffin is linked here. ELS is one of the manufactured home industry connected stocks tracked every business day by the Daily Business News, with the most recent report, linked here. A link to an interview with ELS Chairman Sam Zell, is linked here. ##

(Image credits, font/text by MHProNews, ELS logo is the property of that firm, and is used here under fair use guidelines.)

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L. A. ‘Tony’ Kovach is the publisher of MHProNews.com and MHLivingNews.com.

(Editor’s Notes: “Quo vadis” is Latin for, “where are you going?” Matthew Silver is taking some much needed and well-earned time off, and L. A. “Tony” Kovach will be helping fill the Daily Business News role in the interim).

MH Industry Market Reports by L. A. “Tony” Kovach, to the Daily Business News for MHProNews.