Pictet Asset Management SA Sells 25,508 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Posted by Defense World Staff on Aug 24th, 2023

Pictet Asset Management SA reduced its position in Equity LifeStyle Properties, Inc. (NYSE:ELS – Free Report) by 22.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,578 shares of the real estate investment trust’s stock after selling 25,508 shares during the quarter. Pictet Asset Management SA’s holdings in Equity LifeStyle Properties were worth $5,946,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new stake in shares of Equity LifeStyle Properties in the 2nd quarter valued at $30,000. Exchange Traded Concepts LLC boosted its stake in shares of Equity LifeStyle Properties by 314.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 506 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 384 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Equity LifeStyle Properties in the 1st quarter valued at $59,000. Ronald Blue Trust Inc. lifted its position in shares of Equity LifeStyle Properties by 33.3% during the 1st quarter. Ronald Blue Trust Inc. now owns 804 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 201 shares during the period. Finally, CWM LLC lifted its position in shares of Equity LifeStyle Properties by 222.9% during the 4th quarter. CWM LLC now owns 1,340 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 925 shares during the period. 91.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ELS has been the topic of a number of research reports. Royal Bank of Canada dropped their target price on shares of Equity LifeStyle Properties from $70.00 to $69.00 in a research report on Wednesday, July 19th. StockNews.com initiated coverage on shares of Equity LifeStyle Properties in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Robert W. Baird dropped their target price on shares of Equity LifeStyle Properties from $79.00 to $76.00 in a research report on Wednesday, July 19th. Truist Financial boosted their target price 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. Finally, Barclays dropped their target price on shares of Equity LifeStyle Properties from $79.00 to $78.00 in a research report on Thursday, July 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Equity LifeStyle Properties has a consensus rating of “Moderate Buy” and a consensus price target of $74.21.

Read Our Latest Report on ELS

Equity LifeStyle Properties Stock Performance

Shares of ELS stock opened at $67.06 on Thursday. The firm has a 50-day moving average of $68.14 and a 200-day moving average of $67.44. The company has a market cap of $12.49 billion, a P/E ratio of 43.83, a P/E/G ratio of 4.72 and a beta of 0.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.03 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a one year low of $56.91 and a one year high of $74.50.

Equity LifeStyle Properties (NYSE:ELS – Get Free Report) last announced its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.34 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.32). The firm had revenue of $370.01 million during the quarter, compared to analysts’ expectations of $325.08 million. Equity LifeStyle Properties had a net margin of 19.53% and a return on equity of 18.86%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Equities research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.85 EPS for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a $0.447 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.79 annualized dividend and a dividend yield of 2.67%. Equity LifeStyle Properties’s dividend payout ratio is currently 116.99%.

Equity LifeStyle Properties Company Profile

(Free Report)

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.