Irving Magee Investment Management Lowers stake in Equity Lifestyle Properties (ELS)

Equity Lifestyle Properties (ELS) : Irving Magee Investment Management reduced its stake in Equity Lifestyle Properties by 17.65% during the most recent quarter end. The investment management company now holds a total of 141,810 shares of Equity Lifestyle Properties which is valued at $10.4 Million after selling 30,404 shares in Equity Lifestyle Properties , the firm said in a disclosure report filed with the SEC on May 11, 2016.Equity Lifestyle Properties makes up approximately 5.40% of Irving Magee Investment Management’s portfolio.

Other Hedge Funds, Including , Mufg Americas Holdings Corp sold out all of its stake in ELS during the most recent quarter. The investment firm sold 4,533 shares of ELS which is valued $332,768.Pioneer Investment Management Inc reduced its stake in ELS by selling 5,100 shares or 8.64% in the most recent quarter. The Hedge Fund company now holds 53,900 shares of ELS which is valued at $4 Million. Equity Lifestyle Properties makes up approx 0.02% of Pioneer Investment Management Inc’s portfolio. Smith Asset Management Group Lp sold out all of its stake in ELS during the most recent quarter. The investment firm sold 504 shares of ELS which is valued $37,054.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in ELS in the latest quarter, The investment management firm added 1,956 additional shares and now holds a total of 12,666 shares of Equity Lifestyle Properties which is valued at $931,204. Equity Lifestyle Properties makes up approx 0.03% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.

Equity Lifestyle Properties opened for trading at $73.45 and hit $74.1399 on the upside on Monday, eventually ending the session at $73.73, with a gain of 0.44% or 0.32 points. The heightened volatility saw the trading volume jump to 1,52,721 shares. Company has a market cap of $6,237 M.

On the company’s financial health, Equity Lifestyle Properties reported $0.92 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 18, 2016. Analyst had a consensus of $0.89. The company had revenue of $220.10 million for the quarter, compared to analysts expectations of $207.05 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS.

Equity LifeStyle Properties Inc. (ELS) is a real estate investment trust (REIT). The Company is an owner and operator of lifestyle-oriented properties (Properties). The Company leases individual developed areas (Sites) with access to utilities for placement of factory built homes cottages cabins or recreational vehicles (RVs). The Company operates in two segments: Property Operations and Home Sales and Rental Operations. The Property Operations owns and operates land lease Properties and the Home Sales and Rental Operations purchases sells and leases homes at the Properties. The Company has partnership with MHC Operating Limited. As of December 31 2014 the Company owned an ownership interest in a portfolio of 384 Properties located throughout the United States and Canada containing 143113 residential Sites.

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