Vert Asset Management LLC Trims Stock Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Vert Asset Management LLC reduced its stake in Equity Lifestyle Properties, Inc. by 5.4%, owning 80,165 shares after selling 4,615 shares in the second quarter.
• Several institutional investors, including Vanguard Group and JPMorgan Chase, increased their holdings in Equity Lifestyle Properties during the first quarter, highlighting ongoing interest in the stock.
• Equity Lifestyle Properties recently announced a quarterly dividend of $0.515 to be paid on October 10th, with a current yield of 3.4% despite a high dividend payout ratio of 106.74%.

Vert Asset Management LLC lowered its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 5.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 80,165 shares of the real estate investment trust's stock after selling 4,615 shares during the period. Equity Lifestyle Properties comprises about 1.8% of Vert Asset Management LLC's portfolio, making the stock its 18th largest holding. Vert Asset Management LLC's holdings in Equity Lifestyle Properties were worth $4,944,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Equity Lifestyle Properties by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 25,151,151 shares of the real estate investment trust's stock valued at $1,677,582,000 after buying an additional 97,306 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Equity Lifestyle Properties by 4.6% during the 1st quarter. Principal Financial Group Inc. now owns 6,349,010 shares of the real estate investment trust's stock valued at $423,479,000 after buying an additional 278,193 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Equity Lifestyle Properties by 15.1% during the 1st quarter. Victory Capital Management Inc. now owns 5,330,066 shares of the real estate investment trust's stock valued at $355,515,000 after buying an additional 699,877 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Equity Lifestyle Properties by 12.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,209,452 shares of the real estate investment trust's stock valued at $280,771,000 after purchasing an additional 474,495 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Equity Lifestyle Properties by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,722,268 shares of the real estate investment trust's stock valued at $181,574,000 after purchasing an additional 26,775 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Wall Street Analysts Forecast Growth

ELS has been the subject of several recent analyst reports. Barclays upgraded Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $70.00 to $67.00 in a research note on Tuesday, July 29th. Royal Bank Of Canada cut 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. Truist Financial set a $68.00 price target on Equity Lifestyle Properties and gave the company a "buy" rating in a research note on Wednesday, July 30th. Compass Point upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price target for the company in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company cut their price target on 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Equity Lifestyle Properties presently has an average rating of "Moderate Buy" and an average price target of $71.05.

Equity Lifestyle Properties Trading Up 0.5%

Shares of Equity Lifestyle Properties stock opened at $60.99 on Thursday. The stock has a market cap of $11.82 billion, a P/E ratio of 31.60, a P/E/G ratio of 3.28 and a beta of 0.71. The stock's 50 day simple moving average is $60.38 and its 200-day simple moving average is $62.64. Equity Lifestyle Properties, Inc. has a 1-year low of $58.15 and a 1-year high of $73.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.04 and a quick ratio of 0.04.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, hitting the consensus estimate of $0.69. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%.The business had revenue of $313.29 million for the quarter, compared to analysts' expectations of $377.59 million. During the same period in the previous year, the firm posted $0.66 EPS. The business's revenue for the quarter was down .8% compared to the same quarter last year. Equity Lifestyle Properties has set its FY 2025 guidance at 3.010-3.110 EPS. Q3 2025 guidance at 0.720-0.780 EPS. Analysts predict that Equity Lifestyle Properties, Inc. will post 3.07 EPS 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 10th. Investors of record on Friday, September 26th will be issued a $0.515 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.06 dividend on an annualized basis and a yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio is currently 106.74%.

Equity Lifestyle Properties Profile

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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