Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 56.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,232,008 shares of the real estate investment trust’s stock after purchasing an additional 805,681 shares during the quarter. Principal Financial Group Inc. owned approximately 1.20% of Equity LifeStyle Properties worth $159,232,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ELS. QRG Capital Management Inc. lifted its holdings in Equity LifeStyle Properties by 23.0% during the 3rd quarter. QRG Capital Management Inc. now owns 11,461 shares of the real estate investment trust’s stock worth $818,000 after buying an additional 2,145 shares during the last quarter. Van ECK Associates Corp boosted its stake in Equity LifeStyle Properties by 12.2% in the third quarter. Van ECK Associates Corp now owns 81,480 shares of the real estate investment trust’s stock valued at $5,752,000 after acquiring an additional 8,849 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Equity LifeStyle Properties during the third quarter worth about $75,000. Farther Finance Advisors LLC increased its position in shares of Equity LifeStyle Properties by 6.0% during the third quarter. Farther Finance Advisors LLC now owns 21,141 shares of the real estate investment trust’s stock worth $1,508,000 after purchasing an additional 1,203 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Equity LifeStyle Properties by 4.0% in the 3rd quarter. US Bancorp DE now owns 13,430 shares of the real estate investment trust’s stock valued at $958,000 after purchasing an additional 513 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the 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 transaction, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,808 shares of company stock valued at $6,348,011. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Stock Up 1.5 %

ELS opened at $69.74 on Friday. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $76.60. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 3.79 and a beta of 0.79. The business’s fifty day moving average is $70.91 and its two-hundred day moving average is $67.34. 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 quarterly earnings data 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 return on equity of 24.10% and a net margin of 23.97%. The business had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Equity LifeStyle Properties’s quarterly revenue was down .4% on a year-over-year basis. Analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.9 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is 98.45%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ELS shares. 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. Royal Bank of Canada restated a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 price objective for the company. Truist Financial upped 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. Finally, UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.40.

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.