Goldman Sachs Group Inc. reduced its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS – Get Rating) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,072,095 shares of the real estate investment trust’s stock after selling 132,028 shares during the quarter. Goldman Sachs Group Inc. owned 2.76% of Equity LifeStyle Properties worth $444,621,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in ELS. Marshall Wace North America L.P. bought a new stake in shares of Equity LifeStyle Properties during the 1st quarter worth $69,000. Advisor Group Holdings Inc. raised its position in Equity LifeStyle Properties by 4.5% in the third quarter. Advisor Group Holdings Inc. now owns 10,782 shares of the real estate investment trust’s stock valued at $843,000 after purchasing an additional 465 shares during the last quarter. Mackenzie Financial Corp bought a new position in Equity LifeStyle Properties in the third quarter valued at about $204,000. JustInvest LLC raised its position in Equity LifeStyle Properties by 6.6% in the third quarter. JustInvest LLC now owns 6,993 shares of the real estate investment trust’s stock valued at $546,000 after purchasing an additional 435 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in Equity LifeStyle Properties by 8.2% in the third quarter. CIBC Asset Management Inc now owns 7,259 shares of the real estate investment trust’s stock valued at $567,000 after purchasing an additional 553 shares during the last quarter. Institutional investors and hedge funds own 90.90% of the company’s stock.
Several research firms have commented on ELS. Zacks Investment Research upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research report on Tuesday, April 26th. StockNews.com began coverage on Equity LifeStyle Properties in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Truist Financial initiated coverage on Equity LifeStyle Properties in a research report on Tuesday. They issued a “buy” rating and a $78.00 target price for the company. Finally, Royal Bank of Canada decreased their price target on Equity LifeStyle Properties from $85.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 26th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $83.78.
Equity LifeStyle Properties (NYSE:ELS – Get Rating) last released its earnings results on Monday, April 18th. The real estate investment trust reported $0.45 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.25). Equity LifeStyle Properties had a return on equity of 19.91% and a net margin of 20.97%. The business had revenue of $360.20 million for the quarter, compared to analyst estimates of $305.59 million. During the same period in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 24th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, June 23rd. This represents a $1.64 annualized dividend and a yield of 2.27%. Equity LifeStyle Properties’s dividend payout ratio is currently 107.89%.
Equity LifeStyle Properties Profile (Get Rating)
We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 25, 2021, we own or have an interest in 423 quality properties in 33 states and British Columbia consisting of 161,229 sites.
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