Nomura Asset Management Co. Ltd. Purchases 2,647 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Nomura Asset Management Co. Ltd. boosted its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,999 shares of the real estate investment trust’s stock after acquiring an additional 2,647 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Equity LifeStyle Properties were worth $20,046,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Townsquare Capital LLC grew its holdings in Equity LifeStyle Properties by 23.7% in the 3rd quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust’s stock valued at $916,000 after buying an additional 2,458 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Equity LifeStyle Properties by 0.9% in the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock valued at $331,707,000 after acquiring an additional 39,864 shares during the period. Citigroup Inc. grew its stake in shares of Equity LifeStyle Properties by 16.7% in the third quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust’s stock worth $15,210,000 after acquiring an additional 30,489 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Equity LifeStyle Properties by 60.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,950 shares of the real estate investment trust’s stock worth $2,211,000 after acquiring an additional 12,826 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Equity LifeStyle Properties by 44.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 65,035 shares of the real estate investment trust’s stock valued at $4,640,000 after purchasing an additional 19,974 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Stock Down 1.6 %

Shares of NYSE ELS opened at $69.00 on Wednesday. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The business has a fifty day moving average of $69.92 and a two-hundred day moving average of $68.77. The stock has a market cap of $13.18 billion, a PE ratio of 35.57, a PEG ratio of 3.70 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS) last announced 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). The firm had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 EPS. As a group, equities research analysts expect 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. Stockholders of record on Friday, December 27th will be issued a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

Insider Buying and Selling

In related news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction dated 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 directly owns 260,936 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ELS has been the topic of several research reports. Compass Point boosted their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Truist Financial upped their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

About Equity LifeStyle Properties

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.