Lighthouse Investment Partners LLC Buys Shares of 75,000 Equity LifeStyle Properties, Inc. (NYSE:ELS)

Lighthouse Investment Partners LLC bought a new stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) in the 2nd quarter, HoldingsChannel reports. The firm bought 75,000 shares of the real estate investment trust’s stock, valued at approximately $4,885,000.

Other large investors also recently added to or reduced their stakes in the company. UBS Group AG grew its holdings in shares of Equity LifeStyle Properties by 1,029.9% during the 4th quarter. UBS Group AG now owns 243,770 shares of the real estate investment trust’s stock worth $17,196,000 after purchasing an additional 222,196 shares during the period. D.A. Davidson & CO. purchased a new position in Equity LifeStyle Properties during the 4th quarter worth approximately $209,000. Corient Private Wealth LLC grew its stake in Equity LifeStyle Properties by 20.7% during the 4th quarter. Corient Private Wealth LLC now owns 24,270 shares of the real estate investment trust’s stock worth $1,712,000 after buying an additional 4,169 shares during the last quarter. TD Asset Management Inc grew its stake in Equity LifeStyle Properties by 1.0% during the 4th quarter. TD Asset Management Inc now owns 312,709 shares of the real estate investment trust’s stock worth $22,058,000 after buying an additional 3,085 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Equity LifeStyle Properties by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 80,916 shares of the real estate investment trust’s stock valued at $5,708,000 after purchasing an additional 770 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ELS shares. Evercore ISI lifted their target price on Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Truist Financial lifted their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Finally, Royal Bank of Canada restated 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. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Equity LifeStyle Properties presently has an average rating of “Hold” and a consensus target price of $70.67.

Equity LifeStyle Properties Stock Down 0.3 %

Equity LifeStyle Properties stock opened at $70.80 on Friday. The stock’s 50 day moving average price is $71.35 and its 200 day moving average price is $66.25. The company has a market cap of $13.20 billion, a PE ratio of 38.69, a price-to-earnings-growth ratio of 4.22 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.23). The firm had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.4775 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, September 27th. Equity LifeStyle Properties’s payout ratio is 104.37%.

Insider Transactions at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was 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 directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The sale was disclosed in a document filed with the SEC, which is available 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 sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The disclosure for this sale can be found here. Insiders sold a total of 85,808 shares of company stock valued at $6,348,011 over the last three months. 1.40% of the stock is currently owned by insiders.

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.