Russell Investments Group Ltd. Decreases Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Russell Investments Group Ltd. cut its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 971,147 shares of the real estate investment trust’s stock after selling 28,996 shares during the period. Russell Investments Group Ltd. owned about 0.52% of Equity LifeStyle Properties worth $64,904,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raleigh Capital Management Inc. acquired a new position in shares of Equity LifeStyle Properties during the 1st quarter valued at about $28,000. Eagle Bay Advisors LLC purchased a new position in shares of Equity LifeStyle Properties during the 2nd quarter valued at approximately $30,000. HM Payson & Co. purchased a new position in shares of Equity LifeStyle Properties during the 2nd quarter valued at approximately $40,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Equity LifeStyle Properties during the 1st quarter valued at approximately $59,000. Finally, Arlington Partners LLC acquired a new stake in shares of Equity LifeStyle Properties during the 2nd quarter valued at approximately $71,000. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Performance

NYSE:ELS opened at $69.54 on Friday. The stock has a market cap of $12.96 billion, a P/E ratio of 44.01, a PEG ratio of 6.74 and a beta of 0.70. The stock has a 50 day simple moving average of $65.73 and a 200 day simple moving average of $66.71. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33. Equity LifeStyle Properties, Inc. has a 1-year low of $60.47 and a 1-year high of $74.40.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.31). Equity LifeStyle Properties had a return on equity of 19.58% and a net margin of 20.10%. The company had revenue of $388.80 million for the quarter, compared to the consensus estimate of $337.88 million. During the same quarter last year, the business earned $0.70 EPS. Equity LifeStyle Properties’s revenue was up 2.0% on a year-over-year basis. Research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.85 earnings per share for the current year.

Equity LifeStyle Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.447 per share. This represents a $1.79 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, December 28th. Equity LifeStyle Properties’s dividend payout ratio is currently 113.29%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ELS shares. StockNews.com raised Equity LifeStyle Properties from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Compass Point started coverage on Equity LifeStyle Properties in a research report on Tuesday, October 10th. They set a “neutral” rating and a $65.00 price objective for the company. Wells Fargo & Company lowered Equity LifeStyle Properties from an “overweight” rating to an “equal weight” rating and set a $70.50 price objective for the company. in a research report on Tuesday, September 5th. Bank of America downgraded Equity LifeStyle Properties from a “buy” rating to a “neutral” rating and cut their price target for the stock from $70.00 to $64.00 in a research note on Monday, October 23rd. Finally, Evercore ISI cut their price objective on Equity LifeStyle Properties from $70.00 to $67.00 in a research note on Monday, October 9th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Equity LifeStyle Properties has a consensus rating of “Hold” and a consensus price target of $71.17.

Equity LifeStyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of October 16, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,707 sites.