Everence Capital Management Inc. Acquires New Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Everence Capital Management Inc. bought a new position in Equity LifeStyle Properties, Inc. (NYSE:ELS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,320 shares of the real estate investment trust’s stock, valued at approximately $354,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELS. GAMMA Investing LLC grew its stake in Equity LifeStyle Properties by 23.3% in the fourth quarter. GAMMA Investing LLC now owns 1,763 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 333 shares during the period. JPMorgan Chase & Co. raised its holdings in Equity LifeStyle Properties by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust’s stock worth $339,713,000 after buying an additional 147,332 shares during the period. Principal Financial Group Inc. lifted its stake in Equity LifeStyle Properties by 56.5% in the third quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust’s stock valued at $159,232,000 after buying an additional 805,681 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Equity LifeStyle Properties by 7.9% in the third quarter. Franklin Resources Inc. now owns 809,801 shares of the real estate investment trust’s stock valued at $55,034,000 after buying an additional 59,243 shares during the period. Finally, Tidal Investments LLC increased its position in shares of Equity LifeStyle Properties by 15.8% during the third quarter. Tidal Investments LLC now owns 112,115 shares of the real estate investment trust’s stock worth $7,998,000 after acquiring an additional 15,310 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ELS shares. Evercore ISI upped 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. UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and boosted their target price for the company from $72.00 to $80.00 in a research note on Thursday, January 2nd. Robert W. Baird lifted their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.30.

Equity LifeStyle Properties Price Performance

Shares of ELS opened at $65.74 on Tuesday. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 3.61 and a beta of 0.79. 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 company’s fifty day simple moving average is $69.32 and its 200 day simple moving average is $69.41. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year 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 analysts’ consensus estimates 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 period in the previous year, the company posted $0.71 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts forecast 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 issued a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is presently 98.45%.

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.