DekaBank Deutsche Girozentrale reduced its holdings in Equity Lifestyle Properties Inc. (NYSE:ELS – free report ) by 16.0% during the first quarter, according to the latest filing with the Securities and Exchange Commission. The institutional investor sold 11,457 shares during the quarter and now owns 59,953 shares of the real estate investment trust. DekaBank Deutsche Girozentrale’s holdings in Equity Lifestyle Properties were worth $3,789,000 at the end of the latest reporting period.
Other institutional investors also recently modified their holdings of the company’s stock. Mather Group LLC acquired a new stake in Equity LifeStyle Properties worth $25,000 in the first quarter. Rise Advisors LLC acquired a new stake in Equity LifeStyle Properties worth $27,000 in the first quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new 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 acquiring an additional 368 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Equity LifeStyle Properties worth $44,000 in the fourth quarter. Institutional investors and hedge funds own 97.21% of the company’s shares.
Analyst upgrades and downgrades
A number of brokerages have recently issued reports on ELS. 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 research note on Tuesday, July 30th. Barclays lowered their price target on Equity LifeStyle Properties from $78.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. 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 report on Tuesday, July 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on Equity LifeStyle Properties and set a $68.00 price target on the stock in a report on Wednesday, July 24. Eight investment analysts have rated the company with a hold rating, and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “hold” and an average price target of $68.94.
Get the latest analysis for Equity Lifestyle Properties
Equity Lifestyle Properties, up 1.4%
ELS rose $1 during trading hours on Tuesday, trading at $71.67. The company’s shares were traded at 285,976 shares, with an average trading volume of 1,233,963 shares. Equity LifeStyle Properties, Inc.’s 52-week low is $59.82 and its 52-week high is $74.04. The company’s market cap is $13.37 billion, its PE ratio is 38.62, its PE/G ratio is 4.06 and its beta is 0.77. The company’s 50-day moving average is $64.81 and its 200-day moving average is $64.76. The company’s debt-to-equity ratio is 0.34, its current ratio is 0.03 and its quick ratio is 0.03.
Equity LifeStyle Properties (NYSE:ELS – Get free report ) last released its earnings results on Monday, July 22nd. The real estate investment trust reported quarterly earnings per share (EPS) of $0.42, missing analysts’ consensus estimates of $0.65 by ($0.23). The company’s revenue for the quarter was $380.0 million, compared to analysts’ expectations of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The company’s quarterly revenue grew 2.7% year-over-year. The company’s EPS was $0.66 in the same period last year. Equity research analysts expect Equity LifeStyle Properties, Inc. to post earnings per share 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. This is a positive change from Equity LifeStyle Properties’ previous quarterly dividend of $0.48. The ex-dividend date for this dividend is Friday, September 27th. On an annualized basis, this equates to a dividend of $1.91, for a yield of 2.66%. 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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