Financial Advocates Investment Management Buys 2,815 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Financial Advocates Investment Management raised its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 90.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,921 shares of the real estate investment trust’s stock after purchasing an additional 2,815 shares during the quarter. Financial Advocates Investment Management’s holdings in Equity LifeStyle Properties were worth $386,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELS. Vanguard Group Inc. raised 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 acquiring an additional 240,853 shares in the last quarter. Norges Bank bought a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at approximately $455,623,000. Boston Partners raised its holdings in shares of Equity LifeStyle Properties by 4.2% during the first quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock valued at $183,035,000 after acquiring an additional 113,891 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Equity LifeStyle Properties by 17.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,743,596 shares of the real estate investment trust’s stock valued at $193,533,000 after acquiring an additional 410,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Equity LifeStyle Properties by 0.4% during 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 acquiring an additional 9,357 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Up 0.6 %

Shares of NYSE ELS traded up $0.46 during trading on Thursday, reaching $71.80. The company had a trading volume of 243,775 shares, compared to its average volume of 1,193,963. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $74.04. The stock has a market cap of $13.39 billion, a PE ratio of 38.99, a P/E/G ratio of 4.06 and a beta of 0.77. The business’s 50-day moving average is $67.83 and its 200 day moving average is $65.21. The company has a quick ratio of 0.03, a current 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 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.23). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The business had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. During the same period last year, the business earned $0.66 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.4775 per share. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.66%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Insider Activity at Equity LifeStyle Properties

In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction 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 of the company’s stock, valued at $15,575,398.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Evercore ISI upped their price target on Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “in-line” rating in a research note on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Finally, Truist Financial upped their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Equity LifeStyle Properties has a consensus rating of “Hold” and an average price target of $69.06.

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.