Price T Rowe Associates Inc. MD Sells 3,880,407 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 28.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,574,117 shares of the real estate investment trust’s stock after selling 3,880,407 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.05% of Equity LifeStyle Properties worth $616,574,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Equity LifeStyle Properties by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock valued at $1,614,469,000 after buying an additional 240,853 shares in the last quarter. Norges Bank purchased a new stake in shares of Equity LifeStyle Properties during the 4th quarter valued at about $455,623,000. Massachusetts Financial Services Co. MA raised its position in shares of Equity LifeStyle Properties by 17.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,743,596 shares of the real estate investment trust’s stock valued at $193,533,000 after buying an additional 410,042 shares in the last quarter. Boston Partners raised its position in shares of Equity LifeStyle Properties by 122.4% during the 4th quarter. Boston Partners now owns 2,728,675 shares of the real estate investment trust’s stock valued at $192,469,000 after buying an additional 1,501,692 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Equity LifeStyle Properties by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,559,965 shares of the real estate investment trust’s stock valued at $180,585,000 after buying an additional 9,357 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Trading Up 0.0 %

Shares of NYSE:ELS traded up $0.02 during trading on Monday, reaching $67.02. 59,970 shares of the company were exchanged, compared to its average volume of 1,223,959. The firm has a market capitalization of $12.50 billion, a PE ratio of 36.61, a P/E/G ratio of 3.95 and a beta of 0.77. The business’s fifty day simple moving average is $64.21 and its 200-day simple moving average is $64.76. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $74.04. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The company had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. On average, research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.9 EPS for the current year.

Equity LifeStyle Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a dividend of $0.477 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.85%. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Truist Financial decreased their target price on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Barclays reduced their price objective on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Evercore ISI increased their price objective on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.39.

Equity LifeStyle Properties Company 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.