Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,172 shares of the real estate investment trust’s stock after acquiring an additional 993 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Equity LifeStyle Properties were worth $1,118,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ELS. PGGM Investments grew its position in shares of Equity LifeStyle Properties by 4,586.1% in the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after acquiring an additional 1,804,156 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Equity LifeStyle Properties by 55.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock worth $97,357,000 after acquiring an additional 536,864 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Equity LifeStyle Properties by 4,590.4% in the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after acquiring an additional 450,042 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Equity LifeStyle Properties by 569.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock worth $32,235,000 after acquiring an additional 421,062 shares in the last quarter. Finally, National Bank of Canada FI grew its position in shares of Equity LifeStyle Properties by 46,368.4% in the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock worth $22,321,000 after acquiring an additional 354,718 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Down 2.4 %

Shares of Equity LifeStyle Properties stock opened at $71.81 on Friday. The business’s fifty day moving average price is $70.95 and its two-hundred day moving average price is $66.05. 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 company has a market capitalization of $13.39 billion, a P/E ratio of 39.24, a PEG ratio of 4.32 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60.

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 the consensus estimate of $0.65 by ($0.23). The business had revenue of $380.00 million for the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. As a group, research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.4775 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Insider Transactions at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the sale, the chief executive officer now directly owns 260,936 shares in the company, valued at $19,705,886.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the sale, the chief executive officer now directly owns 260,936 shares in the company, valued at $19,705,886.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the sale, 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 90 days, insiders have sold 85,808 shares of company stock valued at $6,348,011. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

ELS has been the subject of several research reports. Truist Financial lifted their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.50 to $82.00 in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, Evercore ISI boosted their price objective 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $70.67.

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.