D.A. Davidson & CO. Acquires Shares of 3,589 Equity LifeStyle Properties, Inc. (NYSE:ELS)

D.A. Davidson & CO. acquired a new stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,589 shares of the real estate investment trust’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Moran Wealth Management LLC lifted its holdings in shares of Equity LifeStyle Properties by 0.8% during the third quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust’s stock valued at $1,264,000 after acquiring an additional 143 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of Equity LifeStyle Properties by 31.3% in the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 146 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Equity LifeStyle Properties by 0.6% in the second quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock valued at $1,745,000 after buying an additional 152 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Equity LifeStyle Properties by 0.9% in the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock valued at $1,106,000 after buying an additional 154 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in shares of Equity LifeStyle Properties by 8.7% in the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 171 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following the completion of the transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This trade represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Stock Performance

ELS opened at $70.01 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. The firm has a market cap of $13.38 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 3.74 and a beta of 0.77. The business’s fifty day moving average is $70.01 and its 200-day moving average is $68.56.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. Equity LifeStyle Properties’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.477 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.73%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 98.45%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.50 to $82.00 in a report on Thursday, September 19th. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Robert W. Baird lifted their price target on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Truist Financial lifted their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.50.

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.