Cwm LLC reduced its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS – free report ) by 8.5% during the second quarter, according to its latest 13F filing with the Securities and Exchange Commission. The fund held 1,874 shares of the real estate investment trust after selling 174 shares during the quarter. Cwm LLC's holdings of Equity LifeStyle Properties were worth $122,000 as of the latest filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also modified their holdings of the company's stock. Mather Group LLC acquired a stake in Equity LifeStyle Properties worth about $25,000 in the first quarter. Rise Advisors LLC acquired a stake in Equity LifeStyle Properties worth $27,000 in the first quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a stake in Equity LifeStyle Properties worth $35,000 in the fourth quarter. Headlands Technologies LLC increased its stake in Equity LifeStyle Properties by 143.8% in the fourth quarter. Headlands Technologies LLC now owns 624 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 368 shares in the fourth quarter. Finally, GAMMA Investing LLC acquired shares of Equity LifeStyle Properties worth $44,000 in the fourth quarter. 97.21% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ELS has been the topic of many analyst reports. Truist Financial increased their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed their “sector perform” rating and $68.00 price target on Equity LifeStyle Properties in a research report on Wednesday, July 24th. Evercore ISI increased their price target on Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 23rd. Finally, Barclays lowered their price target on Equity LifeStyle Properties from $78.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating, according to MarketBeat data. The stock currently has a consensus rating of “hold” and a consensus target price of $68.94, according to MarketBeat data.
Check out the latest stock report for Equity LifeStyle Properties
Equity Lifestyle Properties Stock Performance
ELS opened trading at $70.39 on Friday. The company's 50-day moving average price is $66.48 and its 200-day moving average price is $65.05. The company's debt-to-equity ratio is 0.34, current ratio is 0.03 and quick ratio is 0.03. The company has a market capitalization of $13.13 billion, price-to-earnings ratio is 38.46, price-to-earnings-growth ratio is 4.06 and beta is 0.77. Equity LifeStyle Properties, Inc.'s low in the past year is $59.82 and high in the past year is $74.04.
Equity LifeStyle Properties (NYSE:ELS – get free report ) last released its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported EPS of $0.42 for the quarter, missing analysts' consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties' ROE was 23.71%, with a net margin of 23.56%. The company's quarterly revenue was $380 million, beating the consensus estimate of $334.53 million. Year-over-year EPS was $0.66. The company's quarterly revenue increased 2.7% year-over-year. Research analysts expect Equity LifeStyle Properties, Inc. to post EPS of $2.91 for the current fiscal year.
Equity Lifestyle Properties Increases Dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.4775. The ex-dividend date for this dividend is Friday, September 27th. This equates to an annualized dividend of $1.91, or a dividend yield of 2.71%. This is an increase from Equity LifeStyle Properties' previous quarterly dividend of $0.48. Equity LifeStyle Properties' dividend payout ratio is currently 104.37%.
About Equity Lifestyle Properties
(Free report)
The Company is a self-administered real estate investment trust (REIT) headquartered in Chicago. As of January 29, 2024, the Company owns or has interests in 451 properties consisting of 172,465 sites in 35 states and British Columbia.
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