Eventide Asset Management LLC Takes Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Eventide Asset Management LLC acquired a new stake in Equity Lifestyle Properties, purchasing 195,783 shares valued at approximately $13 million, representing about 0.10% of the company.
• Equity Lifestyle Properties' stock has recently faced mixed analyst ratings, being downgraded to a "sell" by Wall Street Zen, while Compass Point upgraded the stock to a "buy" rating, indicating a divergence in market outlook.
• The company announced a quarterly dividend of $0.515, which equates to an annualized yield of 3.4%, though its dividend payout ratio is notably high at 106.74%.

Eventide Asset Management LLC bought a new position 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 Securities & Exchange Commission. The institutional investor bought 195,783 shares of the real estate investment trust's stock, valued at approximately $13,057,000. Eventide Asset Management LLC owned approximately 0.10% of Equity Lifestyle Properties as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Nuveen LLC bought a new stake in Equity Lifestyle Properties in the first quarter valued at $142,937,000. Victory Capital Management Inc. grew its stake 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 valued at $355,515,000 after buying an additional 699,877 shares during the period. Millennium Management LLC increased its position in 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 valued at $64,961,000 after buying an additional 671,703 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its stake in Equity Lifestyle Properties by 101.4% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,251,554 shares of the real estate investment trust's stock worth $83,479,000 after buying an additional 630,065 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Equity Lifestyle Properties by 12.7% during the 1st quarter. JPMorgan Chase & Co. now owns 4,209,452 shares of the real estate investment trust's stock worth $280,771,000 after buying an additional 474,495 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Stock Up 0.1%

Shares of NYSE ELS traded up $0.04 during trading on Tuesday, hitting $61.61. The stock had a trading volume of 1,388,524 shares, compared to its average volume of 1,530,349. The firm has a fifty day moving average of $60.78 and a two-hundred day moving average of $63.44. The company has a market capitalization of $11.94 billion, a PE ratio of 31.92, a PEG ratio of 3.33 and a beta of 0.73. 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 12 month low of $58.15 and a 12 month high of $76.60.

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, meeting analysts' consensus estimates of $0.69. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. The company had revenue of $313.29 million for the quarter, compared to analyst estimates of $377.59 million. During the same period last year, the firm earned $0.66 earnings per share. The firm's revenue was down .8% on a year-over-year basis. 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, equities research analysts forecast 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. Stockholders of record on Friday, September 26th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, September 26th. Equity Lifestyle Properties's payout ratio is presently 106.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ELS shares. Compass Point raised Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price objective for the company in a research note on Tuesday, July 22nd. Royal Bank Of Canada cut their target price on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company decreased their price target 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. Barclays upgraded shares of Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $70.00 to $67.00 in a report on Tuesday, July 29th. Finally, Morgan Stanley reduced their price objective on shares of Equity Lifestyle Properties from $67.50 to $62.50 and set an "equal weight" rating for the company in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and an average price target of $71.05.

Equity Lifestyle Properties 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.