Nordea Investment Management AB Acquires 1,301 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Nordea Investment Management AB lifted its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,574 shares of the real estate investment trust’s stock after purchasing an additional 1,301 shares during the quarter. Nordea Investment Management AB’s holdings in Equity LifeStyle Properties were worth $1,432,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ELS. UMB Bank n.a. raised its stake in shares of Equity LifeStyle Properties by 356.4% in the third 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 last quarter. V Square Quantitative Management LLC grew its holdings in Equity LifeStyle Properties by 31.3% during the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 146 shares during the period. Acadian Asset Management LLC bought a new stake in Equity LifeStyle Properties during the second quarter valued at about $54,000. Wilmington Savings Fund Society FSB bought a new stake in Equity LifeStyle Properties during the third quarter valued at about $72,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Equity LifeStyle Properties during the third quarter valued at about $75,000. 97.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price objective for the company from $72.00 to $80.00 in a research report on Thursday, January 2nd. Compass Point upped their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial increased their price target on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.30.

Equity LifeStyle Properties Trading Down 2.0 %

ELS stock opened at $64.43 on Monday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 3.61 and a beta of 0.79. The business’s 50-day moving average is $68.98 and its 200 day moving average is $69.39.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.28). The company had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. On average, sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Friday, December 27th. Equity LifeStyle Properties’s payout ratio is 98.45%.

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.