Charles Schwab Investment Management Inc. Purchases 87,609 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Charles Schwab Investment Management Inc. increased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,441,191 shares of the real estate investment trust’s stock after acquiring an additional 87,609 shares during the period. Charles Schwab Investment Management Inc. owned about 1.28% of Equity LifeStyle Properties worth $174,155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Equity LifeStyle Properties in the 2nd quarter valued at $30,000. UMB Bank n.a. grew its position in Equity LifeStyle Properties by 356.4% during the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 417 shares during the period. Blue Trust Inc. increased its holdings in Equity LifeStyle Properties by 167.1% during the second 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. GAMMA Investing LLC raised its position in Equity LifeStyle Properties by 36.0% in the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 217 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Equity LifeStyle Properties in the second quarter valued at about $54,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Performance

Equity LifeStyle Properties stock opened at $70.94 on Friday. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. 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 market capitalization of $13.55 billion, a PE ratio of 36.57, a price-to-earnings-growth ratio of 3.76 and a beta of 0.79. The firm’s 50 day simple moving average is $70.38 and its 200 day simple 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 for the quarter, missing the consensus estimate of $0.72 by ($0.28). The firm 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%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 EPS. As a group, analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.69%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 98.45%.

Insider Activity at Equity LifeStyle Properties

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ELS shares. Evercore ISI lifted their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Robert W. Baird boosted their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 price target for the company. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Finally, UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.