Boston Partners Trims Stock Position in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Key Points

• Boston Partners reduced its stake in Equity Lifestyle Properties by 2.5% as of the first quarter, now owning approximately 1.52% of the company, valued at $193.25 million.
• The company reported earnings of $0.69 per share for the last quarter, aligning with analyst estimates, but experienced a decrease in revenue compared to the previous year.
• Equity Lifestyle Properties announced a quarterly dividend of $0.515, with a total annualized dividend of $2.06, reflecting a dividend yield of 3.4% despite a payout ratio of 106.74%.

Boston Partners cut its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,897,654 shares of the real estate investment trust's stock after selling 73,839 shares during the period. Boston Partners owned approximately 1.52% of Equity Lifestyle Properties worth $193,251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. grew its holdings in shares of Equity Lifestyle Properties by 2.6% in the 1st quarter. Beese Fulmer Investment Management Inc. now owns 7,995 shares of the real estate investment trust's stock worth $533,000 after acquiring an additional 200 shares during the period. Xponance Inc. grew its holdings in Equity Lifestyle Properties by 0.7% during the 1st quarter. Xponance Inc. now owns 31,133 shares of the real estate investment trust's stock valued at $2,077,000 after buying an additional 203 shares during the last quarter. Bessemer Group Inc. grew 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 buying an additional 210 shares during the last quarter. GF Fund Management CO. LTD. grew its holdings in Equity Lifestyle Properties by 6.8% during the 1st quarter. GF Fund Management CO. LTD. now owns 3,438 shares of the real estate investment trust's stock valued at $229,000 after buying an additional 218 shares during the last quarter. Finally, Townsquare Capital LLC grew its holdings in Equity Lifestyle Properties by 2.0% during the 1st quarter. Townsquare Capital LLC now owns 12,756 shares of the real estate investment trust's stock valued at $851,000 after buying an additional 251 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Trading Up 1.1%

Shares of ELS opened at $60.93 on Thursday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $11.81 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 3.21 and a beta of 0.70. The stock's fifty day simple moving average is $61.62 and its 200 day simple moving average is $64.18. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $76.60.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, hitting the consensus estimate of $0.69. The business 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 business's quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. On average, equities research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The company 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 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, September 26th. Equity Lifestyle Properties's dividend payout ratio (DPR) is 106.74%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley assumed coverage on Equity Lifestyle Properties in a report on Tuesday, July 15th. They set a "positive" rating and a $67.50 target price on the stock. Wall Street Zen cut Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Truist Financial set a $68.00 price objective on Equity Lifestyle Properties and gave the stock a "buy" rating in a report on Wednesday, July 30th. Royal Bank Of Canada decreased their price objective on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Finally, Compass Point upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price objective on the stock in a report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $71.50.

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.

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