OVERSEA CHINESE BANKING Corp Ltd Purchases New Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 34,043 shares of the real estate investment trust’s stock, valued at approximately $2,429,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ELS. Centersquare Investment Management LLC grew its position in shares of Equity LifeStyle Properties by 22.9% during the first quarter. Centersquare Investment Management LLC now owns 123,030 shares of the real estate investment trust’s stock worth $7,417,000 after buying an additional 22,900 shares in the last quarter. GAMMA Investing LLC grew its holdings in Equity LifeStyle Properties by 36.0% during the 2nd 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 in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Equity LifeStyle Properties by 3.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock worth $21,952,000 after acquiring an additional 12,444 shares in the last quarter. Tidal Investments LLC increased its position in shares of Equity LifeStyle Properties by 35.3% in the 1st quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock worth $5,106,000 after purchasing an additional 20,697 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Equity LifeStyle Properties by 46,368.4% in the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after purchasing an additional 354,718 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ELS shares. Truist Financial raised their price target on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Tuesday. 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 note on Wednesday, July 24th. Evercore ISI boosted their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Robert W. Baird increased their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Stock Down 0.4 %

Equity LifeStyle Properties stock opened at $72.24 on Wednesday. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The stock has a market cap of $13.80 billion, a price-to-earnings ratio of 37.24, a PEG ratio of 3.96 and a beta of 0.79. The company’s 50-day moving average price is $70.89 and its two-hundred day moving average price is $67.65. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 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 analyst estimates of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. Equity LifeStyle Properties’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. On average, analysts expect that Equity LifeStyle Properties, Inc. will post 2.9 EPS 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 paid a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

Insider Activity

In related news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction dated Friday, August 16th. The stock was 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 $15,575,398.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total value of $2,393,662.04. Following the transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 stock in a transaction on Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,808 shares of company stock worth $6,348,011 over the last 90 days. 1.40% of the stock is currently owned by company insiders.

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.