Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,833,596 shares of the real estate investment trust’s stock after acquiring an additional 65,191 shares during the quarter. Geode Capital Management LLC’s holdings in Equity LifeStyle Properties were worth $273,014,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELS. Daiwa Securities Group Inc. increased its holdings in Equity LifeStyle Properties by 370.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust’s stock worth $166,182,000 after purchasing an additional 1,834,491 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Equity LifeStyle Properties by 592.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,963 shares of the real estate investment trust’s stock valued at $116,068,000 after buying an additional 1,391,846 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Equity LifeStyle Properties by 56.5% during the third quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust’s stock worth $159,232,000 after buying an additional 805,681 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Equity LifeStyle Properties in the third quarter worth $54,866,000. Finally, Quantinno Capital Management LP raised its holdings in Equity LifeStyle Properties by 14,049.2% in the third quarter. Quantinno Capital Management LP now owns 713,971 shares of the real estate investment trust’s stock valued at $50,935,000 after acquiring an additional 708,925 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ELS shares. Truist Financial raised their price objective on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Robert W. Baird lifted their price target 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. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective for the company. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Evercore ISI boosted their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 21st. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.50.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the transaction, the chief executive officer now owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties 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 sale, the chief financial officer now owns 148,463 shares in the company, valued at approximately $11,109,486.29. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Equity LifeStyle Properties Trading Down 0.7 %

NYSE:ELS opened at $67.92 on Friday. The firm has a market capitalization of $12.98 billion, a P/E ratio of 35.01, a P/E/G ratio of 3.63 and a beta of 0.77. The business has a 50 day simple moving average of $69.84 and a 200 day simple moving average of $68.86. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. 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 announced 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). The firm had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. Equities research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 2.81%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 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.