Aew Capital Management L P Sells 54,370 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• Aew Capital Management L P sold 54,370 shares of Equity Lifestyle Properties, Inc. (NYSE: ELS), reducing its stake by 34.8%, resulting in ownership of 101,853 shares valued at approximately $6.79 million.
• Equity Lifestyle Properties recently reported Q2 earnings of $0.69 EPS, matching analyst expectations, but its revenue was down 0.8% year-over-year, totaling $313.29 million.
• The company announced a quarterly dividend of $0.515 per share, with an annualized yield of 3.4%, while its dividend payout ratio stands at 106.74%.

Aew Capital Management L P reduced its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 34.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,853 shares of the real estate investment trust's stock after selling 54,370 shares during the quarter. Aew Capital Management L P owned about 0.05% of Equity Lifestyle Properties worth $6,794,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ELS. Wall Street Zen cut Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Barclays raised shares of Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $70.00 to $67.00 in a report on Tuesday, July 29th. Morgan Stanley initiated coverage on shares of Equity Lifestyle Properties in a research note on Tuesday, July 15th. They issued a "positive" rating and a $67.50 price objective for the company. Royal Bank Of Canada decreased their target price on shares of Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Finally, Compass Point upgraded shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price target for the company in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Equity Lifestyle Properties has a consensus rating of "Moderate Buy" and a consensus target price of $71.50.

Equity Lifestyle Properties Trading Down 0.6%

Shares of NYSE ELS traded down $0.38 during trading on Thursday, reaching $59.62. The company had a trading volume of 346,096 shares, compared to its average volume of 1,523,731. The stock has a market cap of $11.55 billion, a P/E ratio of 30.89, a PEG ratio of 3.19 and a beta of 0.70. The company's fifty day moving average price is $61.13 and its 200-day moving average price is $63.77. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.24. Equity Lifestyle Properties, Inc. has a 12 month low of $58.15 and a 12 month high of $76.60.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.69 EPS for the quarter, hitting analysts' consensus estimates of $0.69. The company had revenue of $313.29 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $0.66 earnings per share. Equity Lifestyle Properties has set its FY 2025 guidance at 3.010-3.110 EPS. Q3 2025 guidance at 0.720-0.780 EPS. As a group, research analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, September 26th. Equity Lifestyle Properties's dividend payout ratio is currently 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.