Citigroup Inc. Lowers Stock Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Citigroup Inc. reduced its stake in Equity Lifestyle Properties by 58.1%, selling 199,501 shares, and now holds 143,582 shares valued at approximately $9.58 million.
• Several institutional investors increased their holdings in the company, including Bessemer Group with a 121.4% increase and Blue Trust Inc. with a 351.6% increase in the first quarter.
• The company announced a dividend of $0.515 per share, which reflects an annualized yield of 3.4%, and the payout ratio stands at 106.74%.

Citigroup Inc. reduced its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 58.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 143,582 shares of the real estate investment trust's stock after selling 199,501 shares during the period. Citigroup Inc. owned approximately 0.08% of Equity Lifestyle Properties worth $9,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ELS. Northern Trust Corp increased its holdings in Equity Lifestyle Properties by 43.3% in the 4th quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust's stock valued at $162,162,000 after acquiring an additional 735,580 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of 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 worth $355,515,000 after buying an additional 699,877 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Equity Lifestyle Properties by 221.2% in the 4th quarter. Millennium Management LLC now owns 975,391 shares of the real estate investment trust's stock worth $64,961,000 after buying an additional 671,703 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Equity Lifestyle Properties in the 4th quarter worth about $24,954,000. Finally, Barclays PLC increased its holdings in shares of Equity Lifestyle Properties by 156.9% in the 4th quarter. Barclays PLC now owns 522,262 shares of the real estate investment trust's stock worth $34,782,000 after buying an additional 318,938 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ELS has been the topic of a number of research reports. Compass Point upgraded shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a report on Tuesday, July 22nd. BMO Capital Markets reduced their target price on shares of Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Truist Financial set a $68.00 target price on shares of Equity Lifestyle Properties and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wells Fargo & Company reduced their target price on shares of Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Finally, Morgan Stanley began coverage on shares of Equity Lifestyle Properties in a report on Tuesday, July 15th. They issued a "positive" rating and a $67.50 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $71.50.

Equity Lifestyle Properties Trading Up 1.9%

Equity Lifestyle Properties stock traded up $1.1440 during trading hours on Tuesday, hitting $60.6640. The company had a trading volume of 1,702,022 shares, compared to its average volume of 1,535,236. The firm has a market cap of $11.76 billion, a P/E ratio of 31.43, a P/E/G ratio of 3.24 and a beta of 0.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.04 and a current ratio of 0.04. Equity Lifestyle Properties, Inc. has a 1 year low of $58.15 and a 1 year high of $76.60. The company has a 50-day moving average price of $61.48 and a two-hundred day moving average price of $64.02.

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 (EPS) for the quarter, meeting the consensus estimate of $0.69. The company had revenue of $313.29 million during the quarter, compared to analysts' expectations of $377.59 million. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. The firm's quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company 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, sell-side analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The business also recently disclosed 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. This represents a $2.06 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, September 26th. Equity Lifestyle Properties's payout ratio is 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.