Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Bought by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC lifted its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1,544.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,381 shares of the real estate investment trust’s stock after buying an additional 1,297 shares during the period. Eagle Bay Advisors LLC’s holdings in Equity LifeStyle Properties were worth $91,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Equity LifeStyle Properties by 1.0% during the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock valued at $1,614,469,000 after purchasing an additional 240,853 shares during the period. Norges Bank acquired a new stake in Equity LifeStyle Properties in the fourth quarter worth approximately $455,623,000. Boston Partners increased its position in shares of Equity LifeStyle Properties by 4.2% during the 1st quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock valued at $183,035,000 after purchasing an additional 113,891 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Equity LifeStyle Properties by 17.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,743,596 shares of the real estate investment trust’s stock worth $193,533,000 after buying an additional 410,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Equity LifeStyle Properties by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,559,965 shares of the real estate investment trust’s stock valued at $180,585,000 after buying an additional 9,357 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Patrick Waite sold 20,820 shares of the business’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 value of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.

Equity LifeStyle Properties Stock Up 1.2 %

ELS stock traded up $0.84 during midday trading on Wednesday, reaching $71.23. The company had a trading volume of 131,091 shares, compared to its average volume of 1,196,157. The company has a 50 day moving average of $67.66 and a two-hundred day moving average of $65.17. The company has a market capitalization of $13.28 billion, a P/E ratio of 38.45, a PEG ratio of 4.06 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $74.04. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $380.00 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. On average, equities research analysts expect that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.4775 per share. This represents a $1.91 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Truist Financial upped their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, Evercore ISI lifted their target price on Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an “in-line” rating in a report on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $68.94.

Equity LifeStyle Properties Company 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.