Easterly Investment Partners LLC Lowers Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Easterly Investment Partners LLC reduced its holdings in Equity Lifestyle Properties by 20.8%, now owning 152,146 shares worth approximately $9.38 million.
• Several institutional investors have increased their stakes significantly, including Brooklyn Investment Group, which raised its stake by 673.7% in the first quarter.
• Equity Lifestyle Properties declared a quarterly dividend of $0.515 per share, representing an annualized yield of 3.3% despite a payout ratio of 106.74%.

Easterly Investment Partners LLC lessened its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 20.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 152,146 shares of the real estate investment trust's stock after selling 40,000 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.08% of Equity Lifestyle Properties worth $9,383,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group lifted its stake in shares of Equity Lifestyle Properties by 673.7% in the 1st 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 during the period. National Pension Service raised its stake in 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 buying an additional 276 shares during the last quarter. IFP Advisors Inc raised its stake in Equity Lifestyle Properties by 874.7% during the second quarter. IFP Advisors Inc now owns 848 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 761 shares during the last quarter. SVB Wealth LLC purchased a new position in Equity Lifestyle Properties during the first quarter valued at $61,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in 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 buying an additional 345 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Truist Financial set a $68.00 price objective on Equity Lifestyle Properties and gave the company a "buy" rating in a research note on Wednesday, July 30th. Weiss Ratings restated a "hold (c)" rating on shares of Equity Lifestyle Properties in a research note on Wednesday, October 8th. Compass Point upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price target for the company in a research note on Tuesday, July 22nd. Morgan Stanley decreased their price target on Equity Lifestyle Properties from $67.50 to $62.50 and set an "equal weight" rating for the company in a research note on Thursday, September 4th. Finally, Royal Bank Of Canada decreased their price target on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Eight research analysts have rated the stock with a Buy rating and four have assigned 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 0.1%

Equity Lifestyle Properties stock opened at $62.15 on Friday. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $73.67. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 3.36 and a beta of 0.71. The firm has a 50 day moving average of $60.81 and a 200 day moving average of $62.24. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.24.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, hitting analysts' consensus estimates of $0.69. The business had revenue of $313.29 million during the quarter, compared to analyst estimates of $377.59 million. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. The company's revenue was down .8% on a year-over-year basis. During the same period 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, research analysts predict that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, September 26th. Equity Lifestyle Properties's dividend payout ratio is presently 106.74%.

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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