Aigen Investment Management LP Acquires 8,303 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

Key Points

• Aigen Investment Management LP increased its holdings in Equity Lifestyle Properties, Inc. by 238.7% in the first quarter, now owning 11,781 shares valued at $786,000.
• Equity Lifestyle Properties reported $0.69 earnings per share for the last quarter, meeting analysts' expectations, but with a revenue decline of 0.8% year-over-year.
• The company announced a quarterly dividend of $0.515 per share, providing an annualized yield of 3.4% with a payout ratio of 106.74%.

Aigen Investment Management LP boosted its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 238.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,781 shares of the real estate investment trust's stock after purchasing an additional 8,303 shares during the quarter. Aigen Investment Management LP's holdings in Equity Lifestyle Properties were worth $786,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in Equity Lifestyle Properties by 121.4% during the 4th quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 210 shares during the period. Farther Finance Advisors LLC raised its position 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 in the last quarter. Blue Trust Inc. increased its position in Equity Lifestyle Properties by 351.6% during the first quarter. Blue Trust Inc. now owns 1,865 shares of the real estate investment trust's stock worth $124,000 after buying an additional 1,452 shares during the period. Headlands Technologies LLC acquired a new position in Equity Lifestyle Properties during the first quarter worth approximately $141,000. Finally, UMB Bank n.a. increased its position in Equity Lifestyle Properties by 137.5% during the first quarter. UMB Bank n.a. now owns 2,133 shares of the real estate investment trust's stock worth $142,000 after buying an additional 1,235 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELS has been the topic of a number of research analyst reports. Wall Street Zen downgraded Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Truist Financial set a $68.00 target price on Equity Lifestyle Properties and gave the company a "buy" rating in a research note on Wednesday, July 30th. Wells Fargo & Company dropped 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. BMO Capital Markets decreased their target price on Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, Morgan Stanley started coverage on Equity Lifestyle Properties in a report on Tuesday, July 15th. They issued a "positive" rating and a $67.50 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Equity Lifestyle Properties presently has an average rating of "Moderate Buy" and a consensus target price of $71.50.

Equity Lifestyle Properties Stock Performance

ELS stock traded up $0.37 during mid-day trading on Friday, hitting $60.66. 1,219,570 shares of the company were exchanged, compared to its average volume of 1,966,618. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.24. Equity Lifestyle Properties, Inc. has a 1-year low of $58.15 and a 1-year high of $76.60. The business has a 50 day simple moving average of $61.54 and a 200-day simple moving average of $64.08. The stock has a market capitalization of $11.76 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 3.22 and a beta of 0.70.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, hitting analysts' consensus estimates 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 analyst estimates of $377.59 million. During the same quarter in the prior year, the business posted $0.66 EPS. The firm's revenue was down .8% compared to the same quarter last year. On average, equities analysts forecast that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, September 26th. Equity Lifestyle Properties's dividend payout ratio (DPR) is presently 106.74%.

Equity Lifestyle Properties 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.