Strs Ohio decreased its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS – Free Report) by 27.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,070 shares of the real estate investment trust’s stock after selling 62,796 shares during the period. Strs Ohio owned 0.09% of Equity LifeStyle Properties worth $11,416,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. RB Capital Management LLC lifted its position in Equity LifeStyle Properties by 6.1% during the 1st quarter. RB Capital Management LLC now owns 7,109 shares of the real estate investment trust’s stock valued at $544,000 after purchasing an additional 407 shares during the period. Raymond James & Associates lifted its position in Equity LifeStyle Properties by 50.0% during the 1st quarter. Raymond James & Associates now owns 25,984 shares of the real estate investment trust’s stock valued at $1,987,000 after purchasing an additional 8,658 shares during the period. Bank of Montreal Can lifted its position in Equity LifeStyle Properties by 67.0% during the 1st quarter. Bank of Montreal Can now owns 36,421 shares of the real estate investment trust’s stock valued at $2,820,000 after purchasing an additional 14,609 shares during the period. MetLife Investment Management LLC acquired a new position in Equity LifeStyle Properties during the 1st quarter valued at about $590,000. Finally, Yousif Capital Management LLC lifted its position in Equity LifeStyle Properties by 3.2% during the 1st quarter. Yousif Capital Management LLC now owns 10,102 shares of the real estate investment trust’s stock valued at $773,000 after purchasing an additional 314 shares during the period. Institutional investors and hedge funds own 91.06% of the company’s stock.
Wall Street Analyst Weigh In
ELS has been the topic of a number of research reports. Wells Fargo & Company started coverage on shares of Equity LifeStyle Properties in a research report on Wednesday, March 29th. They set an “overweight” rating and a $75.50 target price on the stock. Barclays cut their price target on shares of Equity LifeStyle Properties from $79.00 to $78.00 in a research report on Thursday, July 6th. Royal Bank of Canada cut their price target on shares of Equity LifeStyle Properties from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 19th. Finally, StockNews.com started coverage on shares of Equity LifeStyle Properties in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Equity LifeStyle Properties currently has a consensus rating of “Moderate Buy” and an average price target of $76.17.
Equity LifeStyle Properties Price Performance
Equity LifeStyle Properties (NYSE:ELS – Get Free Report) last issued its quarterly earnings results on Tuesday, April 18th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.31). The business had revenue of $370.00 million for the quarter, compared to the consensus estimate of $351.71 million. Equity LifeStyle Properties had a return on equity of 18.71% and a net margin of 19.50%. Equity LifeStyle Properties’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. Analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.85 earnings per share for the current fiscal year.
Equity LifeStyle Properties Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.447 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.79 annualized dividend and a dividend yield of 2.65%. Equity LifeStyle Properties’s dividend payout ratio is currently 117.76%.
Equity LifeStyle Properties Company Profile
We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of April 17, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,477 sites.
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