Ontario Teachers Pension Plan Board Boosts Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Ontario Teachers Pension Plan Board increased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 439.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,984 shares of the real estate investment trust’s stock after purchasing an additional 27,685 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Equity LifeStyle Properties were worth $2,424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Clearbridge Investments LLC grew its position in Equity LifeStyle Properties by 25.5% during the 1st quarter. Clearbridge Investments LLC now owns 414,323 shares of the real estate investment trust’s stock worth $26,682,000 after acquiring an additional 84,214 shares during the last quarter. National Bank of Canada FI raised its holdings in Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after buying an additional 354,718 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Equity LifeStyle Properties by 3.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock valued at $21,952,000 after buying an additional 12,444 shares during the period. Crewe Advisors LLC purchased a new stake in Equity LifeStyle Properties during the 1st quarter valued at $103,000. Finally, EntryPoint Capital LLC grew its holdings in Equity LifeStyle Properties by 266,700.0% in the 1st quarter. EntryPoint Capital LLC now owns 2,668 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 2,667 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Insider Buying and Selling

In other news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the transaction, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This represents a 17.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s 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 owns 260,936 shares in the company, valued at approximately $19,705,886.72. This trade represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $70.85 on Wednesday. The company has a 50 day simple moving average of $70.66 and a two-hundred day simple moving average of $67.99. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 36.52, a P/E/G ratio of 3.76 and a beta of 0.79. 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 (NYSE:ELS) last announced its quarterly 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). The firm had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 EPS. 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. Investors of record on Friday, December 27th will be issued 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 2.69%. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

Analyst Ratings Changes

A number of analysts have recently weighed in on ELS shares. Evercore ISI increased 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 report on Monday, October 21st. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Compass Point raised their price target on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Truist Financial boosted their price objective on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird lifted their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Equity LifeStyle Properties has an average rating of “Moderate Buy” and a consensus price target of $72.50.

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.