New York State Common Retirement Fund trimmed its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS – Free Report) by 2.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 175,800 shares of the real estate investment trust’s stock after selling 4,200 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of Equity LifeStyle Properties worth $11,801,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ELS. RB Capital Management LLC grew its position in Equity LifeStyle Properties by 6.1% during the 1st quarter. RB Capital Management LLC now owns 7,109 shares of the real estate investment trust’s stock valued at $544,000 after purchasing an additional 407 shares during the last quarter. Raymond James & Associates grew its position in Equity LifeStyle Properties by 50.0% during the 1st quarter. Raymond James & Associates now owns 25,984 shares of the real estate investment trust’s stock valued at $1,987,000 after purchasing an additional 8,658 shares during the last quarter. Bank of Montreal Can grew its position in Equity LifeStyle Properties by 67.0% during the 1st quarter. Bank of Montreal Can now owns 36,421 shares of the real estate investment trust’s stock valued at $2,820,000 after purchasing an additional 14,609 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in Equity LifeStyle Properties during the 1st quarter valued at about $590,000. Finally, Yousif Capital Management LLC grew its position in Equity LifeStyle Properties by 3.2% during the 1st quarter. Yousif Capital Management LLC now owns 10,102 shares of the real estate investment trust’s stock valued at $773,000 after purchasing an additional 314 shares during the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently commented on ELS shares. Barclays cut their price objective on shares of Equity LifeStyle Properties from $79.00 to $78.00 in a research report on Thursday, July 6th. Robert W. Baird lowered their target price on shares of Equity LifeStyle Properties from $79.00 to $76.00 in a research note on Wednesday, July 19th. Wells Fargo & Company cut shares of Equity LifeStyle Properties from an “overweight” rating to an “equal weight” rating and set a $70.50 target price on the stock. in a research note on Tuesday, September 5th. Truist Financial upped their target price on shares of Equity LifeStyle Properties from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, Royal Bank of Canada lowered their target price on shares of Equity LifeStyle Properties from $70.00 to $69.00 in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Hold” and an average target price of $73.50.
Check Out Our Latest Stock Report on ELS
Equity LifeStyle Properties Price Performance
Shares of NYSE:ELS opened at $65.63 on Thursday. The firm’s 50 day moving average price is $67.92 and its 200-day moving average price is $66.91. Equity LifeStyle Properties, Inc. has a twelve month low of $56.91 and a twelve month high of $74.40. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $12.23 billion, a PE ratio of 42.90, a price-to-earnings-growth ratio of 4.76 and a beta of 0.69.
Equity LifeStyle Properties (NYSE:ELS – Get Free Report) last released its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). Equity LifeStyle Properties had a return on equity of 18.86% and a net margin of 19.53%. The firm had revenue of $370.01 million for the quarter, compared to the consensus estimate of $325.08 million. During the same quarter in the previous year, the business posted $0.64 EPS. Equity LifeStyle Properties’s revenue was up 1.3% on a year-over-year basis. Equities research analysts expect that Equity LifeStyle Properties, Inc. will post 2.85 EPS for the current year.
Equity LifeStyle Properties Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.447 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.79 annualized dividend and a dividend yield of 2.72%. Equity LifeStyle Properties’s payout ratio is 116.99%.
Equity LifeStyle Properties Company Profile
We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of July 17, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,706 sites.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Equity LifeStyle Properties, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Equity LifeStyle Properties wasn’t on the list.
While Equity LifeStyle Properties currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s list of seven stocks and why their long-term outlooks are very promising.
