Tidal Investments LLC Acquires 15,310 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Tidal Investments LLC raised its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 15.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,115 shares of the real estate investment trust’s stock after buying an additional 15,310 shares during the quarter. Tidal Investments LLC owned 0.06% of Equity LifeStyle Properties worth $7,998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ELS. Daiwa Securities Group Inc. lifted its stake in shares of Equity LifeStyle Properties by 370.6% in the third quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust’s stock valued at $166,182,000 after buying an additional 1,834,491 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Equity LifeStyle Properties by 592.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,963 shares of the real estate investment trust’s stock valued at $116,068,000 after acquiring an additional 1,391,846 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Equity LifeStyle Properties by 56.5% during the 3rd 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 purchasing an additional 805,681 shares during the last quarter. Caprock Group LLC bought a new stake in Equity LifeStyle Properties during the 3rd quarter worth approximately $54,866,000. Finally, Quantinno Capital Management LP raised its stake in shares of Equity LifeStyle Properties by 14,049.2% in the third quarter. Quantinno Capital Management LP now owns 713,971 shares of the real estate investment trust’s stock worth $50,935,000 after purchasing an additional 708,925 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Insider Activity at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the business’s 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 directly owns 148,463 shares in the company, valued at $11,109,486.29. The trade was a 17.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the company’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 transaction, 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 disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ELS shares. Evercore ISI increased their price target on 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. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price for the company. Finally, Truist Financial boosted their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. 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. According to data from MarketBeat, Equity LifeStyle Properties presently has an average rating of “Moderate Buy” and a consensus target price of $72.50.

Equity LifeStyle Properties Stock Performance

Equity LifeStyle Properties stock opened at $68.37 on Friday. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The firm has a market cap of $13.06 billion, a P/E ratio of 35.24, a P/E/G ratio of 3.63 and a beta of 0.77. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average of $69.87 and a 200-day moving average of $68.77.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The business had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. Equity LifeStyle Properties’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 earnings per share. Sell-side analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current 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 dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 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.