Envestnet Asset Management Inc. Has $15.12 Million Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Envestnet Asset Management Inc. increased its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 9.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 225,287 shares of the real estate investment trust’s stock after acquiring an additional 19,017 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of Equity LifeStyle Properties worth $15,124,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELS. Eagle Bay Advisors LLC acquired a new position in Equity LifeStyle Properties in the second quarter valued at approximately $30,000. Exchange Traded Concepts LLC raised its position in shares of Equity LifeStyle Properties by 314.8% during the first quarter. Exchange Traded Concepts LLC now owns 506 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 384 shares during the period. Ronald Blue Trust Inc. raised its position in shares of Equity LifeStyle Properties by 33.3% during the first quarter. Ronald Blue Trust Inc. now owns 804 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 201 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of Equity LifeStyle Properties during the first quarter worth approximately $59,000. Finally, Quadrant Capital Group LLC grew its holdings in Equity LifeStyle Properties by 184.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,375 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 891 shares in the last quarter. 98.55% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock opened at $66.51 on Monday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $12.39 billion, a PE ratio of 43.47, a price-to-earnings-growth ratio of 4.77 and a beta of 0.69. The business’s 50-day moving average price is $68.06 and its 200-day moving average price is $67.17. Equity LifeStyle Properties, Inc. has a 12 month low of $56.91 and a 12 month high of $74.40.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $325.08 million. Equity LifeStyle Properties had a net margin of 19.53% and a return on equity of 18.86%. Equity LifeStyle Properties’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. Sell-side analysts forecast that Equity LifeStyle Properties, Inc. will post 2.85 EPS for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.447 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.79 annualized dividend and a yield of 2.69%. Equity LifeStyle Properties’s payout ratio is 116.99%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Robert W. Baird cut their price target on Equity LifeStyle Properties from $79.00 to $76.00 in a research note on Wednesday, July 19th. Royal Bank of Canada lowered their price target on Equity LifeStyle Properties from $70.00 to $69.00 in a report on Wednesday, July 19th. Truist Financial raised their price target on Equity LifeStyle Properties from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Barclays lowered their price target on Equity LifeStyle Properties from $79.00 to $78.00 in a report on Thursday, July 6th. Finally, StockNews.com began coverage on Equity LifeStyle Properties in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Equity LifeStyle Properties presently has an average rating of “Moderate Buy” and an average price target of $74.21.

About Equity LifeStyle Properties

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.