Squarepoint Ops LLC Decreases Holdings in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Squarepoint Ops LLC cut its ELS stake by 77.2% in the second quarter, selling 138,987 shares and retaining 41,079 shares valued at approximately $2.65 million. Institutional investors collectively own 97.21% of the stock.
• Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $68.30, despite some analysts recently lowering targets or maintaining neutral ratings.
• Equity Lifestyle Properties reported quarterly revenue of $397.81 million, up 5.5% year over year, but its $0.50 EPS missed estimates of $0.72. The company declared a quarterly dividend of $0.5425, representing a 3.6% annualized yield.

Squarepoint Ops LLC lessened its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 77.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,079 shares of the real estate investment trust's stock after selling 138,987 shares during the period. Squarepoint Ops LLC's holdings in Equity Lifestyle Properties were worth $2,648,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Wiser Advisor Group LLC acquired a new stake in Equity Lifestyle Properties during the 3rd quarter worth $25,000. Parkside Financial Bank & Trust increased its position in Equity Lifestyle Properties by 126.8% during the second quarter. Parkside Financial Bank & Trust now owns 415 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 232 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Equity Lifestyle Properties by 943.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 453 shares during the period. Clearstead Trust LLC boosted its holdings in Equity Lifestyle Properties by 74.8% in 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 last quarter. Finally, Fulcrum Asset Management LLP purchased a new stake in shares of Equity Lifestyle Properties in the 3rd quarter valued at approximately $34,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ELS shares. Wells Fargo & Company lowered their price objective on 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. Odeon Capital Group set a $65.00 price objective on Equity Lifestyle Properties in a research report on Thursday, July 9th. Jefferies Financial Group raised Equity Lifestyle Properties to a "strong-buy" rating in a research report on Wednesday, July 22nd. Morgan Stanley restated a "mixed" rating and issued a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a report on Wednesday, August 12th. Finally, Weiss Ratings cut shares of Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $68.30.

Equity Lifestyle Properties Stock Up 0.0%

Equity Lifestyle Properties stock opened at $60.10 on Monday. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $11.66 billion, a P/E ratio of 28.90, a P/E/G ratio of 3.50 and a beta of 0.64. The stock's fifty day simple moving average is $64.44 and its 200-day simple moving average is $64.24. Equity Lifestyle Properties, Inc. has a twelve month low of $58.72 and a twelve month high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. 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 company had revenue of $397.81 million during the quarter, compared to analysts' expectations of $383.66 million. During the same quarter in the previous year, the business posted $0.69 EPS. The business's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that Equity Lifestyle Properties, Inc. will post 3.2 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be issued a $0.5425 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.6%. Equity Lifestyle Properties's dividend payout ratio is presently 104.33%.

Equity Lifestyle Properties Profile

Equity LifeStyle Properties, Inc NYSE: ELS is a real estate investment trust that owns, operates and manages residential communities and resort properties across the United States. Its portfolio primarily consists of manufactured home communities, recreational vehicle (RV) resorts and campgrounds.

The company provides long-term homesites for manufactured housing residents, as well as seasonal and transient accommodations for RV owners and vacationers. Its properties generally offer amenities and services such as clubhouses, swimming pools, recreational facilities, community events and utility connections.

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