Bar Harbor Wealth Management Grows Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Bar Harbor Wealth Management raised its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 17.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,246 shares of the real estate investment trust’s stock after purchasing an additional 10,927 shares during the period. Bar Harbor Wealth Management’s holdings in Equity LifeStyle Properties were worth $5,225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in ELS. Swedbank AB raised its holdings in shares of Equity LifeStyle Properties by 10.7% in the third quarter. Swedbank AB now owns 365,305 shares of the real estate investment trust’s stock valued at $26,061,000 after acquiring an additional 35,305 shares in the last quarter. Creative Planning raised its holdings in shares of Equity LifeStyle Properties by 37.3% in the 3rd quarter. Creative Planning now owns 6,715 shares of the real estate investment trust’s stock valued at $479,000 after purchasing an additional 1,824 shares in the last quarter. Procyon Advisors LLC lifted its position in shares of Equity LifeStyle Properties by 7.9% in the 3rd quarter. Procyon Advisors LLC now owns 3,814 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 278 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Equity LifeStyle Properties by 19.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 11,903 shares of the real estate investment trust’s stock worth $849,000 after purchasing an additional 1,957 shares during the period. Finally, Inspire Investing LLC increased its holdings in Equity LifeStyle Properties by 3.6% during the third quarter. Inspire Investing LLC now owns 21,465 shares of the real estate investment trust’s stock valued at $1,531,000 after buying an additional 737 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Equity LifeStyle Properties

In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction on 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 sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’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 completion of the sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,808 shares of company stock worth $6,348,011. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research note on Thursday. They issued a “hold” rating and a $72.00 target price on the stock. Evercore ISI increased their price target on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Truist Financial lifted their price objective 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 investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $71.44.

Equity LifeStyle Properties Stock Performance

Shares of Equity LifeStyle Properties stock opened at $70.14 on Friday. The company has a 50 day moving average price of $71.34 and a 200 day moving average price of $66.61. The firm has a market capitalization of $13.08 billion, a P/E ratio of 38.33, a PEG ratio of 3.60 and a beta of 0.79. 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 52 week low of $59.82 and a 52 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 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $334.53 million. During the same period last year, the firm earned $0.66 earnings per share. Equity LifeStyle Properties’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.4775 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, September 27th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is 104.37%.

Equity LifeStyle Properties 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.