Eventide Asset Management LLC Acquires New 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 purchased a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 195,783 shares of the real estate investment trust's stock, valued at approximately $13,057,000. Eventide Asset Management LLC owned about 0.10% of Equity Lifestyle Properties as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ELS. Brooklyn Investment Group boosted its holdings in shares of Equity Lifestyle Properties by 673.7% in the 1st quarter. Brooklyn Investment Group now owns 441 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 384 shares during the last quarter. National Pension Service lifted its holdings in shares of Equity Lifestyle Properties by 75.0% during the 1st quarter. National Pension Service now owns 644 shares of the real estate investment trust's stock valued at $43,000 after acquiring an additional 276 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Equity Lifestyle Properties during the 1st quarter valued at $61,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Equity Lifestyle Properties by 31.9% during 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 acquiring an additional 345 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Equity Lifestyle Properties by 78.7% during 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 acquiring an additional 635 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Equity Lifestyle Properties Stock Down 1.1%

Shares of ELS traded down $0.66 during midday trading on Wednesday, hitting $61.00. The company had a trading volume of 466,131 shares, compared to its average volume of 1,523,592. The company's 50 day moving average price is $60.78 and its 200 day moving average price is $63.42. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 3.33 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. The company has a quick ratio of 0.04, a current 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 the consensus estimate of $0.69. The company had revenue of $313.29 million during the quarter, compared to the consensus estimate of $377.59 million. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. The company's revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm 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 year.

Equity Lifestyle Properties Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on ELS shares. Morgan Stanley reduced their target price 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. Wall Street Zen lowered shares of Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. 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. Royal Bank Of Canada reduced their target price on shares of 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. Finally, Wells Fargo & Company dropped their price target on shares of Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. One equities research 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $71.05.

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.