Bayforest Capital Ltd Sells 4,874 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• Bayforest Capital Ltd reduced its stake in Equity Lifestyle Properties, Inc. by 25.3%, selling 4,874 shares and now holding 14,410 shares valued at $889,000.
• Several institutional investors, including TD Asset Management and CWM LLC, have increased their holdings in Equity Lifestyle Properties during the second quarter.
• Equity Lifestyle Properties announced a quarterly dividend of $0.515 per share, resulting in an annualized dividend of $2.06 and a dividend yield of 3.3%.

Bayforest Capital Ltd reduced its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 25.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,410 shares of the real estate investment trust's stock after selling 4,874 shares during the period. Bayforest Capital Ltd's holdings in Equity Lifestyle Properties were worth $889,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. TD Asset Management Inc increased its holdings in Equity Lifestyle Properties by 8.0% during the 2nd quarter. TD Asset Management Inc now owns 391,843 shares of the real estate investment trust's stock worth $24,165,000 after purchasing an additional 29,147 shares in the last quarter. Moran Wealth Management LLC increased its holdings in Equity Lifestyle Properties by 1.2% during the 2nd quarter. Moran Wealth Management LLC now owns 17,995 shares of the real estate investment trust's stock worth $1,110,000 after purchasing an additional 220 shares in the last quarter. CWM LLC increased its holdings in Equity Lifestyle Properties by 485.2% during the 2nd quarter. CWM LLC now owns 18,778 shares of the real estate investment trust's stock worth $1,158,000 after purchasing an additional 15,569 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Equity Lifestyle Properties by 12.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,780 shares of the real estate investment trust's stock worth $850,000 after purchasing an additional 1,545 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in Equity Lifestyle Properties by 2.0% during the 2nd quarter. Inspire Investing LLC now owns 22,721 shares of the real estate investment trust's stock worth $1,401,000 after purchasing an additional 456 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ELS. Wall Street Zen downgraded Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Compass Point upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a research note on Tuesday, July 22nd. Morgan Stanley cut their target price on Equity Lifestyle Properties from $67.50 to $62.50 and set an "equal weight" rating on the stock in a research note on Thursday, September 4th. Weiss Ratings restated a "hold (c)" rating on shares of Equity Lifestyle Properties in a research note on Wednesday, October 8th. Finally, Barclays upgraded Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $70.00 to $67.00 in a research note on Tuesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Equity Lifestyle Properties presently has an average rating of "Moderate Buy" and an average target price of $71.05.

Equity Lifestyle Properties Trading Down 1.2%

NYSE:ELS opened at $62.51 on Tuesday. The company has a market cap of $12.11 billion, a P/E ratio of 32.39, a P/E/G ratio of 3.42 and a beta of 0.71. The stock's fifty day moving average price is $60.78 and its two-hundred day moving average price is $62.27. Equity Lifestyle Properties, Inc. has a 1 year low of $58.15 and a 1 year high of $73.67. 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 (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 (EPS) for the quarter, hitting the consensus estimate of $0.69. The firm had revenue of $313.29 million for the quarter, compared to the consensus estimate of $377.59 million. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%.The business's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $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, analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current year.

Equity Lifestyle Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a dividend of $0.515 per share. The ex-dividend date was Friday, September 26th. This represents a $2.06 annualized dividend and a dividend yield of 3.3%. 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.

Want to see what other hedge funds are holding ELS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.