Adelante Capital Management LLC Acquires 205,609 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• Adelante Capital Management LLC has increased its ownership of Equity Lifestyle Properties, Inc. by 47.9%, acquiring an additional 205,609 shares in the first quarter, totaling approximately $42.3 million in holdings.
• Equity Lifestyle Properties recently declared a quarterly dividend of $0.515, with a current dividend yield of 3.3% and a payout ratio of 106.74%.
• Analysts have a consensus price target of $71.05 for Equity Lifestyle Properties, with ratings indicating a Moderate Buy outlook.

Adelante Capital Management LLC raised its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 47.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 634,637 shares of the real estate investment trust's stock after purchasing an additional 205,609 shares during the quarter. Equity Lifestyle Properties accounts for 3.0% of Adelante Capital Management LLC's investment portfolio, making the stock its 12th largest position. Adelante Capital Management LLC owned approximately 0.33% of Equity Lifestyle Properties worth $42,331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ELS. Brooklyn Investment Group grew its stake in shares of Equity Lifestyle Properties by 673.7% during the 1st quarter. Brooklyn Investment Group now owns 441 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 384 shares during the period. National Pension Service grew its stake in shares of Equity Lifestyle Properties by 75.0% during the 1st quarter. National Pension Service now owns 644 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 276 shares during the period. SVB Wealth LLC bought a new position in shares of Equity Lifestyle Properties during the 1st quarter worth $61,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Equity Lifestyle Properties by 31.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,426 shares of the real estate investment trust's stock worth $95,000 after acquiring an additional 345 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Equity Lifestyle Properties by 78.7% during the 1st quarter. Farther Finance Advisors LLC now owns 1,442 shares of the real estate investment trust's stock worth $96,000 after acquiring an additional 635 shares during the period. Institutional investors own 97.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ELS. Truist Financial set a $68.00 price target on Equity Lifestyle Properties and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Wells Fargo & Company cut their price target on 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. Compass Point upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price target for the company in a research note on Tuesday, July 22nd. Royal Bank Of Canada cut their price target on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Finally, Barclays upgraded Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $70.00 to $67.00 in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $71.05.

Equity Lifestyle Properties Stock Performance

Shares of ELS opened at $61.68 on Friday. The stock's 50-day simple moving average is $60.78 and its 200 day simple moving average is $63.49. The stock has a market capitalization of $11.95 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 3.33 and a beta of 0.73. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.04 and a current ratio of 0.04. Equity Lifestyle Properties, Inc. has a 52-week low of $58.15 and a 52-week high of $76.60.

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

Equity Lifestyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.06 annualized dividend and a dividend yield of 3.3%. Equity Lifestyle Properties's dividend payout ratio (DPR) is presently 106.74%.

About Equity Lifestyle Properties

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.

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