Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 370.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,329,431 shares of the real estate investment trust’s stock after acquiring an additional 1,834,491 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Equity LifeStyle Properties were worth $166,182,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ELS. PGGM Investments increased its position in shares of Equity LifeStyle Properties by 4,586.1% in the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock valued at $120,067,000 after purchasing an additional 1,804,156 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Equity LifeStyle Properties by 56.5% in the third quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust’s stock valued at $159,232,000 after buying an additional 805,681 shares during the last quarter. Caprock Group LLC acquired a new stake in Equity LifeStyle Properties in the third quarter valued at $54,866,000. Victory Capital Management Inc. boosted its position in shares of Equity LifeStyle Properties by 7.8% during the 2nd quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock worth $300,237,000 after acquiring an additional 331,945 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Equity LifeStyle Properties in the 1st quarter valued at about $21,252,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the business’s 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 transaction, the chief financial officer now owns 148,463 shares in the company, valued at approximately $11,109,486.29. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction that occurred on 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 transaction, 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 11.23 % 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.

Analyst Ratings Changes

Several research firms recently weighed in on ELS. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 target price for the company. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Evercore ISI increased their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Wells Fargo & Company raised shares of 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 report on Thursday, September 19th. Finally, Robert W. Baird raised their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Equity LifeStyle Properties has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Trading Up 0.1 %

Shares of Equity LifeStyle Properties stock opened at $70.94 on Friday. 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 company has a market capitalization of $13.55 billion, a P/E ratio of 36.57, a PEG ratio of 3.76 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The company’s fifty day moving average is $70.38 and its two-hundred day moving average is $68.08.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly 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 company had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 EPS. Analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

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.