MBB Public Markets I LLC Purchases Shares of 12,100 Equity LifeStyle Properties, Inc. (NYSE:ELS)

MBB Public Markets I LLC purchased a new stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,100 shares of the real estate investment trust’s stock, valued at approximately $788,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ELS. Johnson Investment Counsel Inc. boosted its holdings in Equity LifeStyle Properties by 0.6% during the second quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock worth $1,745,000 after buying an additional 152 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Equity LifeStyle Properties by 0.9% during the 2nd quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock worth $1,106,000 after acquiring an additional 154 shares during the period. Wellington Management Group LLP boosted its stake in shares of Equity LifeStyle Properties by 0.3% during 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 acquiring an additional 155 shares during the period. LRI Investments LLC boosted its stake in shares of Equity LifeStyle Properties by 8.7% during the 2nd quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 171 shares during the period. Finally, Naviter Wealth LLC boosted its stake in 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 valued at $805,000 after purchasing an additional 192 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $70.14 on Wednesday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average price is $71.42 and its 200-day moving average price is $66.28. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The stock has a market cap of $13.08 billion, a P/E ratio of 38.33, a P/E/G ratio of 4.22 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The company had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. Equity LifeStyle Properties’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Equities research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.4775 dividend. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.72%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Insider Activity at Equity LifeStyle Properties

In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Patrick Waite sold 20,820 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the transaction, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,808 shares of company stock valued at $6,348,011. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ELS shares. Truist Financial lifted their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Evercore ISI upped their price target on Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity LifeStyle Properties presently has an average rating of “Hold” and an average price target of $70.67.

About Equity LifeStyle Properties

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.