Swedbank AB Boosts Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Swedbank AB lifted its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 10.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 365,305 shares of the real estate investment trust’s stock after acquiring an additional 35,305 shares during the quarter. Swedbank AB’s holdings in Equity LifeStyle Properties were worth $26,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of ELS. V Square Quantitative Management LLC purchased a new stake in shares of Equity LifeStyle Properties during the second quarter worth $30,000. UMB Bank n.a. raised its stake in shares of Equity LifeStyle Properties by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 417 shares during the period. Blue Trust Inc. raised its stake in shares of Equity LifeStyle Properties by 167.1% during the 2nd 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 holdings in Equity LifeStyle Properties by 36.0% during the 2nd 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 bought a new position in Equity LifeStyle Properties in the 2nd quarter worth about $54,000. 97.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Evercore ISI increased their target price on shares of 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. Truist Financial raised their price target on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Compass Point upped their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird lifted their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.50.

Equity LifeStyle Properties Price Performance

ELS opened at $71.10 on Tuesday. 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 stock has a market capitalization of $13.58 billion, a P/E ratio of 36.65, a PEG ratio of 3.77 and a beta of 0.79. The stock has a 50-day moving average price of $70.38 and a 200-day moving average price of $68.15. 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 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 during the quarter, compared to analysts’ expectations of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. Equities analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is presently 98.45%.

Insiders Place Their Bets

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The trade was a 11.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

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.