Aurora Investment Managers LLC. Cuts Stock Holdings in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Aurora Investment Managers LLC. reduced its Equity Lifestyle Properties stake by 85.6% in the second quarter, selling 46,469 shares and retaining 7,822 shares valued at approximately $504,000.
• Other institutional investors made mixed moves, including significant purchases by Jane Street Group and Cetera Investment Advisers. Institutional investors collectively own 97.21% of ELS shares.
• Analysts maintain a consensus “Hold” rating with an average price target of $68.70. ELS recently reported revenue above expectations but missed EPS estimates, and declared a quarterly dividend of $0.5425, representing a 3.3% yield.

Aurora Investment Managers LLC. lowered its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 85.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,822 shares of the real estate investment trust's stock after selling 46,469 shares during the period. Aurora Investment Managers LLC.'s holdings in Equity Lifestyle Properties were worth $504,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Empowered Funds LLC increased its stake in Equity Lifestyle Properties by 14.1% in the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust's stock worth $435,000 after purchasing an additional 804 shares during the period. Jane Street Group LLC boosted its stake in shares of Equity Lifestyle Properties by 598.5% during the first quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust's stock valued at $7,964,000 after purchasing an additional 102,303 shares during the period. Intech Investment Management LLC grew its holdings in shares of Equity Lifestyle Properties by 62.3% in the first quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust's stock worth $1,542,000 after purchasing an additional 8,873 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Equity Lifestyle Properties by 111.0% in the second quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust's stock worth $624,000 after purchasing an additional 5,325 shares during the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Equity Lifestyle Properties in the second quarter worth $300,000. Institutional investors own 97.21% of the company's stock.

Wall Street Analyst Weigh In

ELS has been the subject of several analyst reports. Weiss Ratings cut shares of Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 30th. Wall Street Zen raised Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Truist Financial set a $67.00 price target on Equity Lifestyle Properties and gave the company a "hold" rating in a report on Tuesday, May 5th. Jefferies Financial Group upgraded Equity Lifestyle Properties to a "strong-buy" rating in a report on Wednesday, July 22nd. Finally, Robert W. Baird lifted their price objective on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $68.70.

Equity Lifestyle Properties Price Performance

ELS opened at $65.23 on Friday. The firm has a market cap of $12.66 billion, a PE ratio of 31.36, a P/E/G ratio of 3.77 and a beta of 0.64. The stock has a 50-day moving average price of $64.25 and a 200-day moving average price of $64.50. Equity Lifestyle Properties, Inc. has a 1 year low of $58.72 and a 1 year high of $69.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.02 and a quick ratio of 0.02.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The firm had revenue of $397.81 million for the quarter, compared to analysts' expectations of $383.66 million. During the same period last year, the company posted $0.69 earnings per share. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Equity Lifestyle Properties, Inc. will post 3.19 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be paid a $0.5425 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.17 annualized dividend and a dividend yield of 3.3%. Equity Lifestyle Properties's payout ratio is currently 104.33%.

Equity Lifestyle Properties Profile

Equity Lifestyle Properties, Inc NYSE: ELS is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company's portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.

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