Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Purchased by Financial Advocates Investment Management

Financial Advocates Investment Management grew its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,248 shares of the real estate investment trust’s stock after purchasing an additional 327 shares during the quarter. Financial Advocates Investment Management’s holdings in Equity LifeStyle Properties were worth $446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Equity LifeStyle Properties during the 2nd quarter valued at about $30,000. UMB Bank n.a. grew its position in 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 valued at $38,000 after acquiring an additional 417 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Equity LifeStyle Properties by 167.1% during 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 period. GAMMA Investing LLC lifted its position 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 worth $53,000 after purchasing an additional 217 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Equity LifeStyle Properties in the second quarter valued at $54,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ELS shares. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a “hold” rating and a $72.00 target price on the stock. Evercore ISI boosted their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. 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 note on Wednesday, July 24th. Finally, UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Equity LifeStyle Properties has an average rating of “Moderate Buy” and an average price target of $72.40.

Equity LifeStyle Properties Price Performance

Shares of ELS opened at $69.32 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 current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm has a market cap of $13.24 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 3.83 and a beta of 0.79. The stock has a 50 day moving average of $71.03 and a 200-day moving average of $67.13.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The business had revenue of $387.30 million during 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 business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. As a group, analysts forecast that Equity LifeStyle Properties, Inc. will post 2.9 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

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

Insiders Place Their Bets

In other news, COO Patrick Waite sold 20,820 shares of the 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 sale, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the 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 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 disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock valued at $6,348,011 over the last quarter. Insiders own 1.40% of the company’s stock.

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.