Boston Partners Raises Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Boston Partners raised its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 4.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,842,566 shares of the real estate investment trust’s stock after purchasing an additional 113,891 shares during the quarter. Boston Partners owned 1.52% of Equity LifeStyle Properties worth $183,035,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in Equity LifeStyle Properties by 0.3% in the fourth quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock valued at $4,224,000 after purchasing an additional 155 shares during the last quarter. Donoghue Forlines LLC lifted its position in Equity LifeStyle Properties by 2.3% in the fourth quarter. Donoghue Forlines LLC now owns 7,195 shares of the real estate investment trust’s stock valued at $508,000 after purchasing an additional 160 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in Equity LifeStyle Properties by 4.7% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 177 shares during the last quarter. Lindbrook Capital LLC lifted its position in Equity LifeStyle Properties by 40.5% in the fourth quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 182 shares during the last quarter. Finally, Naviter Wealth LLC lifted its position in Equity LifeStyle Properties by 1.6% in the first quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock valued at $805,000 after purchasing an additional 192 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

ELS has been the subject of several recent research reports. Truist Financial boosted their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday. Barclays decreased their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Royal Bank of Canada restated a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Finally, Evercore ISI upped their target price on Equity LifeStyle Properties from $69.00 to $72.00 and gave the company an “in-line” rating in a report on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Hold” and a consensus price target of $68.94.

Equity LifeStyle Properties Stock Up 3.0 %

ELS traded up $2.12 during trading on Friday, reaching $72.52. The stock had a trading volume of 1,896,616 shares, compared to its average volume of 1,156,202. The stock’s 50 day moving average is $64.81 and its two-hundred day moving average is $64.81. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $13.53 billion, a price-to-earnings ratio of 39.63, a P/E/G ratio of 4.06 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $74.04.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $380.00 million during the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. Equity LifeStyle Properties’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS. As a group, analysts expect that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.4775 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Equity LifeStyle Properties Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.