Canada Pension Plan Investment Board Boosts Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Canada Pension Plan Investment Board increased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,470,975 shares of the real estate investment trust’s stock after acquiring an additional 22,200 shares during the period. Canada Pension Plan Investment Board owned about 0.79% of Equity LifeStyle Properties worth $95,805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ELS. Private Advisor Group LLC bought a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at $238,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Equity LifeStyle Properties by 4.7% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock valued at $277,000 after acquiring an additional 177 shares during the period. PNC Financial Services Group Inc. lifted its stake in Equity LifeStyle Properties by 8.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 18,981 shares of the real estate investment trust’s stock valued at $1,339,000 after acquiring an additional 1,457 shares during the period. UBS Group AG grew its stake in shares of Equity LifeStyle Properties by 1,029.9% in the fourth quarter. UBS Group AG now owns 243,770 shares of the real estate investment trust’s stock worth $17,196,000 after acquiring an additional 222,196 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of Equity LifeStyle Properties by 278.4% during the fourth quarter. Clearbridge Investments LLC now owns 330,109 shares of the real estate investment trust’s stock valued at $23,286,000 after purchasing an additional 242,865 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 31,988 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total value of $2,393,662.04. Following the completion of the transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at $11,109,486.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties 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 sale, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. 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 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ELS shares. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.50 to $82.00 in a report on Thursday. Truist Financial raised their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Finally, Evercore ISI raised their target price on Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $70.67.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $71.81 on Friday. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. 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 stock has a market cap of $13.39 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 4.32 and a beta of 0.79. The business has a 50-day simple moving average of $70.95 and a two-hundred day simple moving average of $66.05.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly 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 firm 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 revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. On average, analysts expect that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders 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 yield of 2.66%. The ex-dividend date is Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

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.