Novem Group Invests $853,000 in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Novem Group invested approximately $853,000 in Equity Lifestyle Properties, Inc. by acquiring 13,836 shares during the second quarter.
• Equity Lifestyle Properties recently announced a $0.515 quarterly dividend with an annualized yield of 3.5%, expected to be paid on October 10th.
• The real estate investment trust reported $0.69 earnings per share for the last quarter, matching analysts' expectations, but had year-over-year revenue that decreased by 0.8%.

Novem Group bought a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,836 shares of the real estate investment trust's stock, valued at approximately $853,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ELS. Brooklyn Investment Group increased its position in shares of Equity Lifestyle Properties by 673.7% during the first quarter. Brooklyn Investment Group now owns 441 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 384 shares in the last quarter. National Pension Service increased its position 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 worth $43,000 after acquiring an additional 276 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Equity Lifestyle Properties during the first quarter worth about $61,000. Caitong International Asset Management Co. Ltd increased its position in shares of Equity Lifestyle Properties by 31.9% during 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 in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Equity Lifestyle Properties by 78.7% during the first quarter. Farther Finance Advisors LLC now owns 1,442 shares of the real estate investment trust's stock worth $96,000 after purchasing an additional 635 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Equity Lifestyle Properties Stock Down 0.8%

ELS opened at $59.50 on Friday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.24. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 3.24 and a beta of 0.73. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $73.67. The company's 50-day moving average price is $60.44 and its two-hundred day moving average price is $62.77.

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, meeting analysts' consensus estimates of $0.69. The firm had revenue of $313.29 million for 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 company'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 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. As a group, equities analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders 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 yield of 3.5%. The ex-dividend date is Friday, September 26th. Equity Lifestyle Properties's payout ratio is presently 106.74%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays upgraded shares of Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $70.00 to $67.00 in a report on Tuesday, July 29th. Royal Bank Of Canada cut their price target 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. Wall Street Zen cut 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 price target on the stock in a report on Tuesday, July 22nd. Finally, Truist Financial set a $68.00 price target on shares of Equity Lifestyle Properties and gave the stock a "buy" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and a consensus 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.

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