Equity Lifestyle Properties, Inc. $ELS Position Trimmed by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its position in Equity Lifestyle Properties, Inc. by 33.6%, holding 25,717 shares worth $1,715,000 after selling 13,040 shares in the first quarter.
• Several large investors have increased their stakes in Equity Lifestyle Properties, with Brooklyn Investment Group raising its stake by 673.7% during the same period.
• Equity Lifestyle Properties announced a quarterly dividend of $0.515 per share, with a current annualized dividend yield of 3.4%.

1832 Asset Management L.P. lessened its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 33.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,717 shares of the real estate investment trust's stock after selling 13,040 shares during the period. 1832 Asset Management L.P.'s holdings in Equity Lifestyle Properties were worth $1,715,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ELS. Nuveen LLC purchased a new position in shares of Equity Lifestyle Properties during the first quarter valued at approximately $142,937,000. Northern Trust Corp increased its position in Equity Lifestyle Properties by 43.3% during the 4th quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust's stock worth $162,162,000 after purchasing an additional 735,580 shares in the last quarter. Victory Capital Management Inc. increased its position in Equity Lifestyle Properties by 15.1% during the 1st quarter. Victory Capital Management Inc. now owns 5,330,066 shares of the real estate investment trust's stock worth $355,515,000 after purchasing an additional 699,877 shares in the last quarter. Millennium Management LLC lifted its position in Equity Lifestyle Properties by 221.2% during the 4th quarter. Millennium Management LLC now owns 975,391 shares of the real estate investment trust's stock worth $64,961,000 after acquiring an additional 671,703 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Equity Lifestyle Properties by 12.7% during the first quarter. JPMorgan Chase & Co. now owns 4,209,452 shares of the real estate investment trust's stock valued at $280,771,000 after purchasing an additional 474,495 shares during the period. Hedge funds and other institutional investors own 97.21% of the company's stock.

Equity Lifestyle Properties Price Performance

Shares of ELS traded up $0.59 during mid-day trading on Friday, hitting $60.23. The company's stock had a trading volume of 1,428,142 shares, compared to its average volume of 1,528,345. The firm has a 50-day moving average price of $61.07 and a 200 day moving average price of $63.73. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 3.24 and a beta of 0.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.04 and a quick ratio of 0.04. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $76.60.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.69. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. The company had revenue of $313.29 million for the quarter, compared to analysts' expectations of $377.59 million. During the same quarter in the previous year, the company posted $0.66 EPS. The business's revenue was down .8% compared to the same quarter last year. Equity Lifestyle Properties has set its FY 2025 guidance at 3.010-3.110 EPS. Q3 2025 guidance at 0.720-0.780 EPS. On average, research analysts predict that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.06 dividend on an annualized basis and a yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio is currently 106.74%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ELS. Wall Street Zen lowered Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Morgan Stanley began coverage on Equity Lifestyle Properties in a research note on Tuesday, July 15th. They issued a "positive" rating and a $67.50 target price for the company. Compass Point upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 target price for the company in a research note on Tuesday, July 22nd. Wells Fargo & Company reduced their price target on shares of Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Finally, Truist Financial set a $68.00 price target on shares of Equity Lifestyle Properties and gave the stock a "buy" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $71.50.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.