Charles Schwab Investment Management Inc. Purchases 87,609 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Charles Schwab Investment Management Inc. increased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,441,191 shares of the real estate investment trust’s stock after purchasing an additional 87,609 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Equity LifeStyle Properties were worth $174,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Equity LifeStyle Properties in the 2nd quarter worth approximately $30,000. UMB Bank n.a. lifted its stake in Equity LifeStyle Properties by 356.4% in the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 417 shares during the period. Blue Trust Inc. boosted its holdings in Equity LifeStyle Properties by 167.1% in the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 391 shares in the last quarter. GAMMA Investing LLC increased its position in Equity LifeStyle Properties by 36.0% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 217 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Equity LifeStyle Properties in the 2nd quarter worth $54,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ELS. 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. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 target price on the stock. Compass Point raised their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upgraded 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 research report on Thursday, September 19th. Finally, Truist Financial increased their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Price Performance

ELS opened at $70.94 on Friday. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The stock has a 50-day moving average price of $70.38 and a 200-day moving average price of $68.08. The firm has a market cap of $13.55 billion, a PE ratio of 36.57, 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 current ratio of 0.03 and a quick ratio of 0.03.

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 the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The firm had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same period last year, the firm posted $0.71 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. Sell-side analysts predict 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. Shareholders of record on Friday, December 27th will be paid a dividend of $0.477 per share. The ex-dividend date is Friday, December 27th. This represents a $1.91 annualized dividend and a yield of 2.69%. Equity LifeStyle Properties’s dividend payout ratio is 98.45%.

Insiders Place Their Bets

In related news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the sale, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.