MBB Public Markets I LLC Buys New Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

MBB Public Markets I LLC bought a new stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) in the second quarter, Holdings Channel reports. The fund bought 12,100 shares of the real estate investment trust’s stock, valued at approximately $788,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Johnson Investment Counsel Inc. raised its position 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 worth $1,745,000 after acquiring an additional 152 shares during the period. Toronto Dominion Bank raised its position 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 worth $1,106,000 after acquiring an additional 154 shares during the period. Wellington Management Group LLP raised its position in shares of Equity LifeStyle Properties by 0.3% in the fourth quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock worth $4,224,000 after acquiring an additional 155 shares during the period. LRI Investments LLC raised its position 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 worth $139,000 after acquiring an additional 171 shares during the period. Finally, Naviter Wealth LLC raised its position in shares of Equity LifeStyle Properties by 1.6% in the first quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock worth $805,000 after acquiring an additional 192 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity LifeStyle Properties Stock Down 1.7 %

Shares of NYSE:ELS opened at $70.14 on Wednesday. The company has a market cap of $13.08 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 4.22 and a beta of 0.79. The firm’s 50-day simple moving average is $71.42 and its 200-day simple moving average is $66.28. 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 fifty-two week low of $59.82 and a fifty-two week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last announced 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 company had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. During the same quarter last year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.4775 dividend. This is a boost 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 annualized dividend and a dividend yield of 2.72%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ELS shares. Evercore ISI upped their price objective on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Royal Bank of Canada restated a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, Truist Financial upped their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $70.67.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the transaction, the chief executive officer now owns 260,936 shares in the company, valued at $19,705,886.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction dated 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 transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock worth $6,348,011 over the last 90 days. Company insiders own 1.40% of the company’s stock.

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.