Meiji Yasuda Asset Management Co Ltd. Buys 110,792 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• Meiji Yasuda Asset Management Co Ltd. has significantly increased its stake in Equity Lifestyle Properties by 1,264.5%, owning approximately 0.06% of the company after acquiring over 110,000 shares.
• The real estate investment trust reported $0.69 EPS for the latest quarter, matching analysts' consensus estimates, but experienced a 0.8% decline in quarterly revenue compared to the previous year.
• Equity Lifestyle Properties declared a quarterly dividend of $0.515, reflecting an annualized yield of 3.3%, and has a payout ratio of 106.74%.

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 1,264.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,554 shares of the real estate investment trust's stock after purchasing an additional 110,792 shares during the period. Meiji Yasuda Asset Management Co Ltd. owned about 0.06% of Equity Lifestyle Properties worth $7,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group lifted its stake in shares of Equity Lifestyle Properties by 673.7% during the 1st quarter. Brooklyn Investment Group now owns 441 shares of the real estate investment trust's stock worth $29,000 after buying an additional 384 shares during the last quarter. National Pension Service raised its stake in Equity Lifestyle Properties by 75.0% in the 1st quarter. National Pension Service now owns 644 shares of the real estate investment trust's stock worth $43,000 after purchasing an additional 276 shares in the last quarter. SVB Wealth LLC bought a new position in Equity Lifestyle Properties in the 1st quarter valued at about $61,000. Caitong International Asset Management Co. Ltd increased its holdings in Equity Lifestyle Properties by 31.9% in the 1st 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 period. Finally, Farther Finance Advisors LLC increased its holdings in Equity Lifestyle Properties by 78.7% in the 1st quarter. Farther Finance Advisors LLC now owns 1,442 shares of the real estate investment trust's stock valued at $96,000 after buying an additional 635 shares during the period. Institutional investors own 97.21% of the company's stock.

Equity Lifestyle Properties Trading Down 0.0%

NYSE:ELS traded down $0.03 during trading hours on Friday, hitting $61.50. The company had a trading volume of 1,341,668 shares, compared to its average volume of 1,404,042. 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 stock has a 50-day moving average price of $60.73 and a 200 day moving average price of $63.32. The company has a market capitalization of $11.92 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 3.32 and a beta of 0.73. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $76.60.

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

Equity Lifestyle Properties Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ELS. Morgan Stanley decreased their price target 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, September 4th. Wells Fargo & Company reduced their target price on shares of Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Compass Point upgraded shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price target for the company in a research report on Tuesday, July 22nd. Truist Financial set a $68.00 target price on shares of Equity Lifestyle Properties and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Barclays raised shares of Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $70.00 to $67.00 in a research note on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Equity Lifestyle Properties presently has an average rating of "Moderate Buy" and an average target price of $71.05.

Equity Lifestyle Properties Company 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.