Entropy Technologies LP Purchases New Position in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Key Points

• Entropy Technologies LP has invested approximately $954,000 in Equity Lifestyle Properties, acquiring 14,296 shares during the first quarter.
• Equity Lifestyle Properties has declared a quarterly dividend of $0.515 per share, with a dividend yield of 3.4%, scheduled to be paid on October 10.
• Analysts have a consensus rating of "Moderate Buy" for Equity Lifestyle Properties, with a price target of $71.50.

Entropy Technologies LP bought a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,296 shares of the real estate investment trust's stock, valued at approximately $954,000.

Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in shares of Equity Lifestyle Properties by 121.4% in the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 210 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Equity Lifestyle Properties by 78.7% during the 1st quarter. Farther Finance Advisors LLC now owns 1,442 shares of the real estate investment trust's stock worth $96,000 after acquiring an additional 635 shares in the last quarter. Blue Trust Inc. grew its position in shares of Equity Lifestyle Properties by 351.6% in the first quarter. Blue Trust Inc. now owns 1,865 shares of the real estate investment trust's stock valued at $124,000 after purchasing an additional 1,452 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Equity Lifestyle Properties in the first quarter valued at about $141,000. Finally, UMB Bank n.a. grew its position in shares of Equity Lifestyle Properties by 137.5% in the first quarter. UMB Bank n.a. now owns 2,133 shares of the real estate investment trust's stock valued at $142,000 after purchasing an additional 1,235 shares during the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELS has been the topic of several research analyst reports. BMO Capital Markets lowered their price target on Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley began coverage on shares of Equity Lifestyle Properties in a research report on Tuesday, July 15th. They set a "positive" rating and a $67.50 target price on the stock. Truist Financial set a $68.00 price target on shares of Equity Lifestyle Properties and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Wall Street Zen cut shares of Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Royal Bank Of Canada cut their target price on shares of 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.50.

Equity Lifestyle Properties Stock Down 0.9%

NYSE:ELS traded down $0.56 on Thursday, hitting $60.37. 950,012 shares of the company's stock were exchanged, compared to its average volume of 1,537,635. The firm has a 50-day moving average price of $61.62 and a 200-day moving average price of $64.18. 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, Inc. has a 52 week low of $58.15 and a 52 week high of $76.60. The company has a market cap of $11.70 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 3.21 and a beta of 0.70.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released 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. The company had revenue of $313.29 million for 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%. Equity Lifestyle Properties's revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. As a group, analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, September 26th. This represents a $2.06 annualized dividend and a dividend yield of 3.4%. Equity Lifestyle Properties's 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.