Royal Bank of Canada Raises Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Royal Bank of Canada boosted its holdings in Equity Lifestyle Properties, Inc. (ELS) by 3.0%, now owning 559,253 shares valued at $37.3 million.
• Equity Lifestyle Properties announced a quarterly dividend of $0.515 per share, representing an annualized yield of 3.3%.
• Analysts have mixed views on ELS, with price targets ranging from $62.50 to $72.00, and an overall average rating of "Moderate Buy".

Royal Bank of Canada increased its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 559,253 shares of the real estate investment trust's stock after purchasing an additional 16,396 shares during the period. Royal Bank of Canada owned 0.29% of Equity Lifestyle Properties worth $37,303,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ELS. Retirement Planning Co of New England Inc. purchased a new stake in Equity Lifestyle Properties in the 1st quarter valued at about $213,000. Quarry LP grew its holdings in Equity Lifestyle Properties by 132.3% in the first quarter. Quarry LP now owns 2,063 shares of the real estate investment trust's stock valued at $138,000 after purchasing an additional 1,175 shares during the period. Twin Tree Management LP acquired a new position in Equity Lifestyle Properties during the first quarter worth approximately $146,000. Vident Advisory LLC increased its position in Equity Lifestyle Properties by 3.6% during the first quarter. Vident Advisory LLC now owns 23,606 shares of the real estate investment trust's stock worth $1,575,000 after purchasing an additional 824 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new position in Equity Lifestyle Properties during the first quarter worth approximately $4,716,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company lowered 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 research note on Thursday, July 24th. 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 report on Tuesday, July 22nd. Royal Bank Of Canada dropped their price target on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Barclays upgraded Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $70.00 to $67.00 in a report on Tuesday, July 29th. Finally, Morgan Stanley dropped their target price on shares of Equity Lifestyle Properties from $67.50 to $62.50 and set an "equal weight" rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $71.05.

Equity Lifestyle Properties Trading Up 1.3%

Shares of ELS opened at $61.68 on Friday. Equity Lifestyle Properties, Inc. has a 12 month low of $58.15 and a 12 month high of $76.60. The stock's 50-day moving average is $60.78 and its two-hundred day moving average is $63.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market cap of $11.95 billion, a PE ratio of 31.96, a P/E/G ratio of 3.33 and a beta of 0.73.

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 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.69. The business 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 company's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm 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. Equities analysts forecast that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, September 26th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.3%. Equity Lifestyle Properties's dividend payout ratio (DPR) 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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