Equity Lifestyle Properties, Inc. $ELS Position Cut by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. has reduced its stake in Equity Lifestyle Properties, Inc. by 41.8%, selling 2,730,814 shares and now owning approximately 3.8 million shares, valued at $253.76 million.
• Institutional investors hold 97.21% of Equity Lifestyle Properties, with notable increases in stakes from several firms including Brooklyn Investment Group (up 673.7%) and Farther Finance Advisors LLC (up 78.7%).
• Equity Lifestyle Properties announced a quarterly dividend of $0.515 per share, yielding 3.4%, with an ex-dividend date set for September 26th.

Price T Rowe Associates Inc. MD lowered its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 41.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,804,405 shares of the real estate investment trust's stock after selling 2,730,814 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.99% of Equity Lifestyle Properties worth $253,756,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group boosted its holdings in Equity Lifestyle Properties by 673.7% in the first quarter. Brooklyn Investment Group now owns 441 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 384 shares during the last quarter. National Pension Service boosted its holdings in Equity Lifestyle Properties by 75.0% in the first 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 during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings 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 valued at $95,000 after acquiring an additional 345 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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 in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Equity Lifestyle Properties by 351.6% during the first quarter. Blue Trust Inc. now owns 1,865 shares of the real estate investment trust's stock worth $124,000 after purchasing an additional 1,452 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley assumed coverage on Equity Lifestyle Properties in a research note on Tuesday, July 15th. They set a "positive" rating and a $67.50 price objective on the stock. Barclays upgraded 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 research note on Tuesday, July 29th. Wells Fargo & Company lowered their price objective on 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 Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price objective for the company in a report on Tuesday, July 22nd. Finally, Wall Street Zen lowered Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Equity Lifestyle Properties currently has an average rating of "Moderate Buy" and a consensus target price of $71.50.

Equity Lifestyle Properties Stock Performance

Shares of NYSE:ELS traded up $0.49 during trading on Friday, hitting $60.13. 312,697 shares of the company traded hands, compared to its average volume of 1,520,946. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 3.24 and a beta of 0.70. The business's fifty day moving average is $61.07 and its 200-day moving average is $63.73. Equity Lifestyle Properties, Inc. has a one year low of $58.15 and a one year 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 posted its earnings results on Monday, July 21st. The real estate investment trust reported $0.69 EPS for the quarter, meeting the consensus estimate of $0.69. The company had revenue of $313.29 million during the quarter, compared to analyst estimates of $377.59 million. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%.The business's revenue was down .8% compared to the same quarter last year. During the same period in the prior 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 predict that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

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 issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, September 26th. Equity Lifestyle Properties's dividend payout ratio is 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.