Equity LifeStyle Properties, Inc. (NYSE:ELS) Stake Lowered by Wellington Management Group LLP

Wellington Management Group LLP cut its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 78.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,381 shares of the real estate investment trust’s stock after selling 42,391 shares during the quarter. Wellington Management Group LLP’s holdings in Equity LifeStyle Properties were worth $812,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in Equity LifeStyle Properties by 356.4% in the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 417 shares during the last quarter. V Square Quantitative Management LLC increased its position in Equity LifeStyle Properties by 31.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 146 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Equity LifeStyle Properties by 167.1% in the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 391 shares in the last quarter. Acadian Asset Management LLC bought a new position in Equity LifeStyle Properties during the second quarter valued at about $54,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Equity LifeStyle Properties in the 3rd quarter valued at $75,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ELS shares. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.50 to $82.00 in a report on Thursday, September 19th. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Compass Point boosted their target price on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Truist Financial upped their price target on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird upped their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $66.18 on Friday. The stock has a market capitalization of $12.64 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 3.63 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The firm’s fifty day simple moving average is $69.91 and its two-hundred day simple moving average is $68.98. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The firm had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. As a group, analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 98.45%.

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.