Blue Trust Inc. Raises Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Blue Trust Inc. increased its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 167.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 625 shares of the real estate investment trust’s stock after buying an additional 391 shares during the period. Blue Trust Inc.’s holdings in Equity LifeStyle Properties were worth $40,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Equity LifeStyle Properties in the 4th quarter worth about $455,623,000. PGGM Investments increased its holdings in Equity LifeStyle Properties by 4,586.1% during the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after purchasing an additional 1,804,156 shares during the period. Boston Partners lifted its holdings in shares of Equity LifeStyle Properties by 122.4% in the 4th quarter. Boston Partners now owns 2,728,675 shares of the real estate investment trust’s stock worth $192,469,000 after buying an additional 1,501,692 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Equity LifeStyle Properties by 55.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock worth $97,357,000 after buying an additional 536,864 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Equity LifeStyle Properties by 4,590.4% during the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after buying an additional 450,042 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Insider Activity

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Price Performance

Shares of ELS opened at $70.35 on Friday. The company has a 50 day moving average of $67.36 and a two-hundred day moving average of $65.14. 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, Inc. has a twelve month low of $59.82 and a twelve month high of $74.04. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 38.44, a price-to-earnings-growth ratio of 4.06 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts predict 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 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 is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.71%. Equity LifeStyle Properties’s payout ratio is presently 104.37%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial lifted their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Evercore ISI upped their price target on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 23rd. Barclays cut their price objective on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties has an average rating of “Hold” and a consensus price target 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.