Lecap Asset Management Ltd. Sells 26,558 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• Lecap Asset Management Ltd. reduced its holdings in Equity Lifestyle Properties, Inc. by 62.4%, selling 26,558 shares during the second quarter and now owning 15,980 shares worth approximately $985,000.
• Equity Lifestyle Properties has a consensus rating of "Moderate Buy" from analysts, with a current price target of $71.05.
• The company announced a quarterly dividend of $0.515 per share, representing an annualized yield of 3.4%, with a payout ratio currently at 106.74%.

Lecap Asset Management Ltd. decreased its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 62.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,980 shares of the real estate investment trust's stock after selling 26,558 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Equity Lifestyle Properties were worth $985,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group increased its holdings in Equity Lifestyle Properties by 673.7% during 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 period. National Pension Service increased its stake in shares of Equity Lifestyle Properties by 75.0% during the first quarter. National Pension Service now owns 644 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 276 shares during the period. SVB Wealth LLC bought a new position in shares of Equity Lifestyle Properties during the first quarter valued at approximately $61,000. Caitong International Asset Management Co. Ltd lifted its stake in Equity Lifestyle Properties by 31.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,426 shares of the real estate investment trust's stock worth $95,000 after acquiring an additional 345 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Equity Lifestyle Properties by 78.7% in the first 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. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ELS. Wells Fargo & Company decreased their price objective on shares of Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Compass Point raised shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price target for the company in a research note on Tuesday, July 22nd. Morgan Stanley lowered 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. Barclays upgraded Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $70.00 to $67.00 in a report on Tuesday, July 29th. Finally, Truist Financial set a $68.00 target price on Equity Lifestyle Properties and gave the stock a "buy" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Equity Lifestyle Properties has a consensus rating of "Moderate Buy" and a consensus price target of $71.05.

Equity Lifestyle Properties Stock Up 0.3%

ELS stock opened at $61.14 on Friday. The business has a 50 day moving average of $60.40 and a 200 day moving average of $62.59. The firm has a market cap of $11.85 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 3.29 and a beta of 0.71. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $73.67. 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 issued its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, meeting the consensus estimate of $0.69. The firm had revenue of $313.29 million during 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 company's revenue was down .8% on a year-over-year basis. During the same period last year, the company 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. On average, research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The company 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 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, September 26th. Equity Lifestyle Properties's dividend payout ratio is currently 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.

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