Public Employees Retirement System of Ohio Sells 50,541 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• Public Employees Retirement System of Ohio cut its stake in Equity Lifestyle Properties by 15.3% in the first quarter, selling 50,541 shares and leaving it with 278,879 shares worth about $17.4 million.
• Institutional ownership remains very high, with 97.21% of ELS stock held by institutional investors, while several other funds either added to or initiated positions in the company.
• ELS reported Q2 earnings of $0.50 per share, missing estimates, though revenue came in above expectations at $397.81 million and increased 5.5% year over year; the company also maintained a quarterly dividend of $0.5425 per share, yielding about 3.3%.

Public Employees Retirement System of Ohio lowered its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 15.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 278,879 shares of the real estate investment trust's stock after selling 50,541 shares during the quarter. Public Employees Retirement System of Ohio owned 0.14% of Equity Lifestyle Properties worth $17,408,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wiser Advisor Group LLC bought a new position in shares of Equity Lifestyle Properties in the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd raised its stake in Equity Lifestyle Properties by 943.8% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 453 shares during the period. Clearstead Trust LLC raised its stake in Equity Lifestyle Properties by 74.8% during the 4th quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 231 shares during the period. Fulcrum Asset Management LLP purchased a new position in Equity Lifestyle Properties in the 3rd quarter worth approximately $34,000. Finally, V Square Quantitative Management LLC purchased a new position in Equity Lifestyle Properties in the 4th quarter worth approximately $37,000. 97.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ELS. Wells Fargo & Company dropped their target price on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an "equal weight" rating for the company in a research report on Monday, June 1st. Mizuho started coverage on shares of Equity Lifestyle Properties in a research note on Tuesday, March 31st. They issued an "outperform" rating and a $72.00 price target on the stock. Robert W. Baird boosted their price target on shares of Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Wall Street Zen raised shares of Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. Finally, Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the company a "hold" rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Equity Lifestyle Properties has an average rating of "Hold" and a consensus price target of $68.70.

Equity Lifestyle Properties Stock Performance

Equity Lifestyle Properties stock opened at $66.16 on Friday. The company's 50-day moving average price is $63.69 and its 200-day moving average price is $64.18. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $69.00. The company has a quick ratio of 0.04, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. The company has a market cap of $12.83 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 4.02 and a beta of 0.66.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a net margin of 25.92% and a return on equity of 22.31%. The business had revenue of $397.81 million for the quarter, compared to analysts' expectations of $383.66 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. Equity Lifestyle Properties has set its FY 2026 guidance at 3.130-3.230 EPS and its Q3 2026 guidance at 0.760-0.820 EPS. On average, equities research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a dividend of $0.5425 per share. The ex-dividend date was Friday, June 26th. This represents a $2.17 dividend on an annualized basis and a yield of 3.3%. Equity Lifestyle Properties's dividend payout ratio is 104.33%.

Equity Lifestyle Properties Profile

Equity Lifestyle Properties, Inc NYSE: ELS is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company's portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.

Want to see what other hedge funds are holding ELS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.