Wexford Capital LP Takes Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Wexford Capital LP bought a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,642 shares of the real estate investment trust’s stock, valued at approximately $714,000.

Several other hedge funds have also recently bought and sold shares of ELS. Vanguard Group Inc. grew its holdings in shares of Equity LifeStyle Properties by 0.8% during the first quarter. Vanguard Group Inc. now owns 24,685,594 shares of the real estate investment trust’s stock worth $1,887,954,000 after buying an additional 184,219 shares in the last quarter. BlackRock Inc. increased its position in shares of Equity LifeStyle Properties by 1.7% in the first quarter. BlackRock Inc. now owns 15,004,695 shares of the real estate investment trust’s stock worth $1,007,265,000 after acquiring an additional 251,778 shares in the last quarter. State Street Corp raised its position in Equity LifeStyle Properties by 13.0% in the first quarter. State Street Corp now owns 8,817,442 shares of the real estate investment trust’s stock valued at $677,864,000 after purchasing an additional 1,016,542 shares during the period. Price T Rowe Associates Inc. MD grew its position in Equity LifeStyle Properties by 10.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,572,482 shares of the real estate investment trust’s stock valued at $575,474,000 after acquiring an additional 837,152 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Equity LifeStyle Properties by 0.7% during the first quarter. Victory Capital Management Inc. now owns 5,452,661 shares of the real estate investment trust’s stock worth $366,037,000 after purchasing an additional 35,711 shares in the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Equity LifeStyle Properties from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Wells Fargo & Company downgraded Equity LifeStyle Properties from an “overweight” rating to an “equal weight” rating and set a $70.50 price objective on the stock. in a report on Tuesday, September 5th. Robert W. Baird reduced their target price on Equity LifeStyle Properties from $79.00 to $76.00 in a research note on Wednesday, July 19th. StockNews.com lowered shares of Equity LifeStyle Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Finally, Barclays reduced their price objective on shares of Equity LifeStyle Properties from $79.00 to $78.00 in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.50.

Equity LifeStyle Properties Stock Performance

ELS stock traded down $0.29 during trading on Monday, hitting $64.87. 276,731 shares of the company’s stock traded hands, compared to its average volume of 1,133,033. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 42.54, a price-to-earnings-growth ratio of 4.76 and a beta of 0.69. Equity LifeStyle Properties, Inc. has a 52 week low of $56.91 and a 52 week high of $74.40. The stock has a fifty day moving average price of $67.99 and a two-hundred day moving average price of $66.97. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.47.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). Equity LifeStyle Properties had a net margin of 19.53% and a return on equity of 18.86%. The business had revenue of $370.01 million for the quarter, compared to the consensus estimate of $325.08 million. During the same period in the prior year, the company earned $0.64 EPS. Equity LifeStyle Properties’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.85 EPS for the current fiscal year.

Equity LifeStyle Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.447 dividend. This represents a $1.79 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, September 28th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 116.99%.

Equity LifeStyle Properties 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.