Corebridge Financial Inc. Has $14.08 Million Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Corebridge Financial Inc. reduced its stake in Equity Lifestyle Properties, Inc. by 2.4%, selling 5,146 shares and maintaining a total of 211,015 shares valued at approximately $14.1 million.
• Equity Lifestyle Properties is currently facing mixed ratings from analysts, with one firm lowering its rating to "sell," while others have upgraded it to "buy," reflecting a range of target prices from $67.00 to $72.00.
• The company recently announced a quarterly dividend of $0.515 per share, resulting in an annualized yield of 3.5%, although it has a high payout ratio of 106.74%.

Corebridge Financial Inc. cut its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 211,015 shares of the real estate investment trust's stock after selling 5,146 shares during the period. Corebridge Financial Inc. owned about 0.11% of Equity Lifestyle Properties worth $14,075,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group boosted its stake in shares of Equity Lifestyle Properties by 673.7% during the first quarter. Brooklyn Investment Group now owns 441 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 384 shares in the last quarter. National Pension Service boosted its stake in shares of Equity Lifestyle Properties by 75.0% during the first quarter. National Pension Service now owns 644 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 276 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Equity Lifestyle Properties during the first quarter valued at about $61,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Equity Lifestyle Properties by 31.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,426 shares of the real estate investment trust's stock valued at $95,000 after purchasing an additional 345 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Equity Lifestyle Properties by 78.7% during the first quarter. Farther Finance Advisors LLC now owns 1,442 shares of the real estate investment trust's stock valued at $96,000 after purchasing an additional 635 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity Lifestyle Properties Trading Up 1.0%

Shares of ELS traded up $0.59 during trading hours on Monday, hitting $60.23. 1,428,142 shares of the stock were exchanged, compared to its average volume of 1,610,326. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $76.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.04 and a quick ratio of 0.04. The business has a 50-day moving average of $60.94 and a 200-day moving average of $63.61. The firm has a market capitalization of $11.67 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 3.25 and a beta of 0.73.

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 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts' expectations of $377.59 million. During the same period in the prior year, the company posted $0.66 earnings per share. Equity Lifestyle Properties's revenue for the quarter was down .8% compared to the same quarter last year. Equity Lifestyle Properties has set its FY 2025 guidance at 3.010-3.110 EPS. Q3 2025 guidance at 0.720-0.780 EPS. On average, research 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 will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, September 26th. Equity Lifestyle Properties's payout ratio is presently 106.74%.

Analyst Ratings Changes

A number of equities analysts have recently commented on ELS shares. Truist Financial set a $68.00 price target on shares of Equity Lifestyle Properties and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wall Street Zen lowered shares of Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Compass Point upgraded shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price target on the stock in a report on Tuesday, July 22nd. Morgan Stanley started coverage on shares of Equity Lifestyle Properties in a report on Tuesday, July 15th. They set a "positive" rating and a $67.50 price target on the stock. Finally, Royal Bank Of Canada cut their price target on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.50.

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.