Farther Finance Advisors LLC Increases Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Farther Finance Advisors LLC increased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,141 shares of the real estate investment trust’s stock after purchasing an additional 1,203 shares during the quarter. Farther Finance Advisors LLC’s holdings in Equity LifeStyle Properties were worth $1,508,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of Equity LifeStyle Properties in the second quarter worth about $30,000. UMB Bank n.a. increased its stake in Equity LifeStyle Properties by 356.4% in 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. lifted its position in Equity LifeStyle Properties by 167.1% in the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 391 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Equity LifeStyle Properties by 36.0% during the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 217 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of Equity LifeStyle Properties in the second quarter worth approximately $54,000. 97.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ELS has been the subject of a number of recent analyst reports. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Robert W. Baird increased their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Compass Point increased their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Truist Financial boosted their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Equity LifeStyle Properties presently has an average rating of “Moderate Buy” and a consensus target price of $72.40.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the transaction, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock worth $6,348,011 in the last 90 days. Insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Price Performance

ELS opened at $69.32 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. The company has a market cap of $13.24 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 3.83 and a beta of 0.79. The stock has a fifty day simple moving average of $71.03 and a two-hundred day simple moving average of $67.17. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The business had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Research analysts predict that Equity LifeStyle Properties, Inc. will post 2.9 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.477 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.75%. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

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.