Equity LifeStyle Properties, Inc. (NYSE:ELS) Position Lessened by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. lowered its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,203 shares of the real estate investment trust’s stock after selling 1,114 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.09% of Equity LifeStyle Properties worth $10,890,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Private Advisor Group LLC bought a new position in shares of Equity LifeStyle Properties during the fourth quarter worth about $238,000. BNP Paribas Financial Markets boosted its stake in Equity LifeStyle Properties by 454.2% during the 4th quarter. BNP Paribas Financial Markets now owns 129,642 shares of the real estate investment trust’s stock valued at $9,145,000 after purchasing an additional 106,249 shares during the period. QRG Capital Management Inc. grew its position in Equity LifeStyle Properties by 14.6% in the 4th quarter. QRG Capital Management Inc. now owns 10,616 shares of the real estate investment trust’s stock worth $749,000 after purchasing an additional 1,352 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Equity LifeStyle Properties by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,559,965 shares of the real estate investment trust’s stock valued at $180,585,000 after purchasing an additional 9,357 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Equity LifeStyle Properties by 17.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,743,596 shares of the real estate investment trust’s stock valued at $193,533,000 after buying an additional 410,042 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Insider Transactions 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 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 in the company, valued at approximately $15,575,398.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Evercore ISI lifted their target price on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Truist Financial lifted their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.88.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $74.87 on Thursday. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $75.39. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $69.38 and a two-hundred day moving average of $65.61. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 40.91, a PEG ratio of 4.26 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last released its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.23). The business had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 earnings per share. As a group, analysts expect that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.4775 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.55%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, September 27th. Equity LifeStyle Properties’s payout ratio is presently 104.37%.

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.