Equity LifeStyle Properties, Inc. (NYSE:ELS) Stock Position Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 56.5% in the third quarter, Holdings Channel.com reports. The fund owned 2,232,008 shares of the real estate investment trust’s stock after buying an additional 805,681 shares during the period. Principal Financial Group Inc.’s holdings in Equity LifeStyle Properties were worth $159,232,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its holdings in Equity LifeStyle Properties by 356.4% in the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 417 shares during the period. Blue Trust Inc. lifted its position in shares of Equity LifeStyle Properties by 167.1% in the 2nd 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. V Square Quantitative Management LLC boosted its holdings in shares of Equity LifeStyle Properties by 31.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 146 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Equity LifeStyle Properties during the 2nd quarter valued at about $54,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Equity LifeStyle Properties during the third quarter worth about $72,000. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $66.18 on Friday. The firm’s 50-day simple moving average is $69.88 and its 200 day simple moving average is $68.96. The stock has a market cap of $12.64 billion, a P/E ratio of 34.11, a P/E/G ratio of 3.63 and a beta of 0.77. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results 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 company had revenue of $387.30 million during the quarter, compared to analyst estimates 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 was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. Equities analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ELS. Compass Point upped their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI raised their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a “hold” rating and a $72.00 price target for the company. Finally, UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.50.

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.