Neo Ivy Capital Management Purchases New Position in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Key Points

• Neo Ivy Capital Management has acquired a new stake in Equity Lifestyle Properties, purchasing 14,448 shares valued at approximately $964,000 during the first quarter.
• Equity Lifestyle Properties recently reported $0.69 EPS for the quarter, matching expectations, but with revenue of $313.29 million, falling short of the forecasted $377.59 million.
• A quarterly dividend of $0.515 was declared, resulting in an annualized dividend yield of 3.46%, with a dividend payout ratio of 106.74%.

Neo Ivy Capital Management bought a new position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 14,448 shares of the real estate investment trust's stock, valued at approximately $964,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bessemer Group Inc. increased its position in Equity Lifestyle Properties by 121.4% during the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 210 shares during the last quarter. Farther Finance Advisors LLC grew its stake 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 purchasing an additional 635 shares during the period. Blue Trust Inc. increased its position in shares of Equity Lifestyle Properties by 351.6% during the 1st quarter. Blue Trust Inc. now owns 1,865 shares of the real estate investment trust's stock valued at $124,000 after purchasing an additional 1,452 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Equity Lifestyle Properties by 137.5% in the 1st quarter. UMB Bank n.a. now owns 2,133 shares of the real estate investment trust's stock worth $142,000 after purchasing an additional 1,235 shares during the period. Finally, Greenleaf Trust purchased a new position in shares of Equity Lifestyle Properties in the first quarter worth approximately $200,000. Institutional investors own 97.21% of the company's stock.

Insider Buying and Selling

In other news, CFO Paul Seavey sold 10,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $64.72, for a total transaction of $647,200.00. Following the completion of the transaction, the chief financial officer owned 78,162 shares in the company, valued at $5,058,644.64. This trade represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ELS has been the subject of a number of research reports. Wells Fargo & Company reduced their target price 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. Barclays raised shares of Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $70.00 to $67.00 in a research report on Tuesday. Truist Financial decreased their target price on Equity Lifestyle Properties from $71.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday. Compass Point upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a research report on Tuesday, July 22nd. Finally, BMO Capital Markets cut their price target on Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Equity Lifestyle Properties currently has an average rating of "Moderate Buy" and an average target price of $71.50.

Equity Lifestyle Properties Price Performance

ELS traded down $0.29 on Wednesday, hitting $59.83. 478,698 shares of the company's stock traded hands, compared to its average volume of 1,484,144. The company's 50 day simple moving average is $62.26 and its 200-day simple moving average is $64.59. The company has a current ratio of 0.04, a quick ratio of 0.03 and a debt-to-equity ratio of 0.24. Equity Lifestyle Properties, Inc. has a one year low of $58.31 and a one year high of $76.60. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 3.12 and a beta of 0.72.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share (EPS) 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 business had revenue of $313.29 million during the quarter, compared to analyst estimates of $377.59 million. During the same period last year, the firm posted $0.66 EPS. The company's revenue was down .8% on a year-over-year basis. As a group, research analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.44%. Equity Lifestyle Properties's dividend payout ratio 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.