Equity Lifestyle Properties, Inc. $ELS Shares Sold by PGGM Investments

Key Points

• PGGM Investments reduced its stake in Equity Lifestyle Properties, Inc. by 1.3%, now holding approximately 1,892,266 shares valued at around $116.7 million.
• Wall Street analysts have mixed views, with one "Strong Buy", eight "Buy", three "Hold", and varying target prices, notably Barclays cutting theirs from $70 to $67.
• Equity Lifestyle Properties announced a quarterly dividend of $0.515 per share with a yield of 3.4%, set to be paid on October 10th.

PGGM Investments reduced its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,892,266 shares of the real estate investment trust's stock after selling 25,566 shares during the quarter. Equity Lifestyle Properties comprises approximately 2.0% of PGGM Investments' investment portfolio, making the stock its 15th largest position. PGGM Investments owned about 0.99% of Equity Lifestyle Properties worth $116,696,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ELS. Nuveen LLC acquired a new position in Equity Lifestyle Properties in the 1st quarter valued at $142,937,000. Victory Capital Management Inc. raised its stake in Equity Lifestyle Properties by 15.1% in the 1st 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 during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its stake in Equity Lifestyle Properties by 101.4% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,251,554 shares of the real estate investment trust's stock valued at $83,479,000 after purchasing an additional 630,065 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Equity Lifestyle Properties by 12.7% in the 1st 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 during the last quarter. Finally, American Century Companies Inc. raised its stake in Equity Lifestyle Properties by 535.2% in the 1st quarter. American Century Companies Inc. now owns 369,167 shares of the real estate investment trust's stock valued at $24,623,000 after purchasing an additional 311,053 shares during the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ELS. Wall Street Zen downgraded Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Barclays raised Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $70.00 to $67.00 in a research note on Tuesday, July 29th. Truist Financial set a $68.00 target price on Equity Lifestyle Properties and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Morgan Stanley cut their target price 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 cut their target price 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $71.05.

Equity Lifestyle Properties Stock Performance

NYSE ELS opened at $60.73 on Wednesday. The stock has a market cap of $11.77 billion, a PE ratio of 31.47, a P/E/G ratio of 3.21 and a beta of 0.73. 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, Inc. has a twelve month low of $58.15 and a twelve month high of $73.67. The stock has a fifty day simple moving average of $60.38 and a 200-day simple moving average of $62.65.

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 for the quarter, hitting analysts' consensus estimates of $0.69. The business had revenue of $313.29 million during the quarter, compared to analysts' expectations of $377.59 million. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%.The company's revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $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. Equities analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, September 26th. Equity Lifestyle Properties's dividend payout ratio (DPR) is 106.74%.

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.

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