Russell Investments Group Ltd. Sells 367,775 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• Russell Investments Group Ltd. reduced its holdings in Equity Lifestyle Properties, Inc. by 46.6%, selling 367,775 shares, and now owns roughly 0.22% of the company valued at $28 million.
• Equity Lifestyle Properties reported a net margin of 24.13% and earnings per share of $0.69 for the last quarter, meeting analysts' expectations despite a 0.8% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.515 per share with an annualized yield of 3.4%, scheduled for payment on October 10th.

Russell Investments Group Ltd. cut its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 46.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 420,928 shares of the real estate investment trust's stock after selling 367,775 shares during the period. Russell Investments Group Ltd. owned approximately 0.22% of Equity Lifestyle Properties worth $28,076,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Prudential PLC bought a new stake in Equity Lifestyle Properties in the first quarter worth $470,000. Resona Asset Management Co. Ltd. grew its position in shares of Equity Lifestyle Properties by 6.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 110,168 shares of the real estate investment trust's stock valued at $7,326,000 after purchasing an additional 7,069 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Equity Lifestyle Properties by 3.3% in the first quarter. HighTower Advisors LLC now owns 11,824 shares of the real estate investment trust's stock valued at $789,000 after purchasing an additional 378 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Equity Lifestyle Properties in the first quarter valued at about $142,937,000. Finally, Aigen Investment Management LP grew its position in shares of Equity Lifestyle Properties by 238.7% in the first quarter. Aigen Investment Management LP now owns 11,781 shares of the real estate investment trust's stock valued at $786,000 after purchasing an additional 8,303 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ELS has been the topic of several research analyst reports. Morgan Stanley initiated coverage on Equity Lifestyle Properties in a research report on Tuesday, July 15th. They issued a "positive" rating and a $67.50 price target on the stock. Truist Financial set a $68.00 price target on Equity Lifestyle Properties and gave the company a "buy" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada lowered their price target on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company lowered their price target on Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Finally, Wall Street Zen downgraded Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Equity Lifestyle Properties has an average rating of "Moderate Buy" and an average price target of $71.50.

Equity Lifestyle Properties Stock Performance

ELS stock traded up $1.1440 during trading on Tuesday, reaching $60.6640. 1,702,022 shares of the stock were exchanged, compared to its average volume of 1,535,236. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $76.60. The company has a market capitalization of $11.76 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 3.24 and a beta of 0.70. The stock has a 50 day simple moving average of $61.48 and a 200-day simple moving average of $64.02. 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 released its 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 for the quarter, compared to the consensus estimate of $377.59 million. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%.The firm's revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the business 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. As a group, sell-side analysts anticipate 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 will be paid on Friday, October 10th. Shareholders 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 dividend on an annualized basis and a yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio (DPR) is currently 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.