LRI Investments LLC Makes New Investment in Equity LifeStyle Properties, Inc. (NYSE:ELS)

LRI Investments LLC purchased a new position in Equity LifeStyle Properties, Inc. (NYSE:ELS) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,961 shares of the real estate investment trust’s stock, valued at approximately $122,000.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Equity LifeStyle Properties by 0.3% in the 4th quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock worth $4,224,000 after purchasing an additional 155 shares during the period. Donoghue Forlines LLC lifted its position in shares of Equity LifeStyle Properties by 2.3% in the 4th quarter. Donoghue Forlines LLC now owns 7,195 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 160 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Equity LifeStyle Properties by 4.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 177 shares during the period. Lindbrook Capital LLC lifted its position in shares of Equity LifeStyle Properties by 40.5% in the 4th quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 182 shares during the period. Finally, Naviter Wealth LLC lifted its position in shares of Equity LifeStyle Properties by 1.6% in the 1st quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock worth $805,000 after purchasing an additional 192 shares during the period. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Trading Up 3.0 %

Shares of NYSE ELS opened at $72.53 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market cap of $13.53 billion, a P/E ratio of 39.63, a price-to-earnings-growth ratio of 4.06 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $74.04. The firm has a 50-day moving average of $64.81 and a 200 day moving average of $64.81.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.23). The firm had revenue of $380.00 million during 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 firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. As a group, sell-side analysts expect that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.4775 dividend. The ex-dividend date is Friday, September 27th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a yield of 2.63%. Equity LifeStyle Properties’s payout ratio is 104.37%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Barclays dropped their target price on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Evercore ISI raised their target price 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, Truist Financial lifted their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and two 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 target price of $68.94.

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.