Sumitomo Mitsui DS Asset Management Company Ltd Increases Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,197 shares of the real estate investment trust’s stock after buying an additional 1,363 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Equity LifeStyle Properties were worth $3,938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ELS. Mather Group LLC. purchased a new stake in shares of Equity LifeStyle Properties in the 1st quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in Equity LifeStyle Properties in the second quarter valued at $30,000. UMB Bank n.a. grew its position in Equity LifeStyle Properties by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 417 shares during the period. Blue Trust Inc. raised its stake in shares of Equity LifeStyle Properties by 167.1% during 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 during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Equity LifeStyle Properties by 36.0% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 217 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Down 0.2 %

ELS opened at $69.97 on Monday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The company has a market cap of $13.05 billion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The company has a 50-day moving average price of $71.30 and a 200 day moving average price of $66.70.

Equity LifeStyle Properties (NYSE:ELS) last announced its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. During the same period in the previous year, the company earned $0.66 EPS. Equity LifeStyle Properties’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.4775 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.73%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Insiders Place Their Bets

In other 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 completion of the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the transaction, the chief executive officer now owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock valued at $6,348,011 in the last 90 days. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on ELS shares. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a report on Thursday. They set a “hold” rating and a $72.00 price target on the stock. Truist Financial lifted their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Evercore ISI increased their target price on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equity LifeStyle Properties currently has an average rating of “Hold” and a consensus price target of $71.44.

Equity LifeStyle Properties 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.