Cubist Systematic Strategies LLC Takes $14.18 Million Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Cubist Systematic Strategies LLC acquired a new position in Equity Lifestyle Properties, Inc. valued at approximately $14.18 million by purchasing 212,629 shares.
• Equity Lifestyle Properties has recently faced mixed analyst ratings, with Wells Fargo lowering its price target from $82.00 to $70.00 while other firms like Barclays upgraded their rating to "overweight".
• The company reported $0.69 earnings per share for the last quarter, meeting consensus estimates, but revenue fell short at $313.29 million compared to an anticipated $377.59 million.

Cubist Systematic Strategies LLC acquired a new position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 212,629 shares of the real estate investment trust's stock, valued at approximately $14,182,000. Cubist Systematic Strategies LLC owned 0.11% of Equity Lifestyle Properties as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Equity Lifestyle Properties by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 25,151,151 shares of the real estate investment trust's stock worth $1,677,582,000 after acquiring an additional 97,306 shares during the period. Principal Financial Group Inc. lifted its holdings in Equity Lifestyle Properties by 4.6% during the first quarter. Principal Financial Group Inc. now owns 6,349,010 shares of the real estate investment trust's stock valued at $423,479,000 after purchasing an additional 278,193 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Equity Lifestyle Properties by 15.1% during the first quarter. Victory Capital Management Inc. now owns 5,330,066 shares of the real estate investment trust's stock valued at $355,515,000 after purchasing an additional 699,877 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Equity Lifestyle Properties by 12.7% during the first quarter. JPMorgan Chase & Co. now owns 4,209,452 shares of the real estate investment trust's stock valued at $280,771,000 after purchasing an additional 474,495 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Equity Lifestyle Properties by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,722,268 shares of the real estate investment trust's stock valued at $181,574,000 after purchasing an additional 26,775 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Wells Fargo & Company lowered their price target on shares of Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Compass Point raised 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 lowered their target price on shares of Equity Lifestyle Properties from $67.50 to $62.50 and set an "equal weight" rating on the stock in a report on Thursday. Finally, Barclays raised shares of Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $70.00 to $67.00 in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $71.05.

Equity Lifestyle Properties Price Performance

Equity Lifestyle Properties stock traded up $0.68 during mid-day trading on Thursday, reaching $60.86. 1,591,496 shares of the company's stock traded hands, compared to its average volume of 1,528,774. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.25 and a beta of 0.73. The stock has a 50 day moving average of $60.81 and a two-hundred day moving average of $63.55. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.24. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $76.60.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.69. The company had revenue of $313.29 million for the quarter, compared to the consensus estimate of $377.59 million. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. Equity Lifestyle Properties's revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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. Equities 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. Stockholders of record on Friday, September 26th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.06 annualized dividend and a dividend yield of 3.4%. 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.