3,678 Shares in Equity LifeStyle Properties, Inc. (NYSE:ELS) Purchased by Destination Wealth Management

Destination Wealth Management purchased a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) during the third quarter, HoldingsChannel reports. The firm purchased 3,678 shares of the real estate investment trust’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Equity LifeStyle Properties by 41.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,699 shares of the real estate investment trust’s stock worth $892,000 after acquiring an additional 3,983 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Equity LifeStyle Properties in the second quarter valued at $30,000. Outlook Wealth Advisors LLC bought a new position in shares of Equity LifeStyle Properties in the second quarter valued at about $335,000. Blue Trust Inc. lifted its stake in shares of Equity LifeStyle Properties by 167.1% during the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 391 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Equity LifeStyle Properties by 27.7% during the 2nd quarter. Raymond James & Associates now owns 100,114 shares of the real estate investment trust’s stock worth $6,520,000 after buying an additional 21,686 shares during the period. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Up 0.0 %

Shares of NYSE ELS opened at $68.37 on Friday. The stock has a market capitalization of $13.06 billion, a P/E ratio of 35.24, a PEG ratio of 3.63 and a beta of 0.77. The stock’s fifty day moving average is $69.87 and its 200 day moving average is $68.77. 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.

Equity LifeStyle Properties (NYSE:ELS) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. During the same period in the prior year, the business earned $0.71 earnings per share. Equity LifeStyle Properties’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts forecast 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. This represents a $1.91 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is presently 98.45%.

Insider Buying and Selling at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the sale, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

ELS has been the topic of several research analyst reports. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Robert W. Baird increased their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI increased their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Finally, Truist Financial lifted their target price 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 issued a strong buy rating to the stock. According to MarketBeat.com, Equity LifeStyle Properties presently has an average rating of “Moderate Buy” and an average 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.