Equity LifeStyle Properties, Inc. (NYSE:ELS) Stock Position Lifted by AGF Management Ltd.

AGF Management Ltd. lifted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,110 shares of the real estate investment trust’s stock after purchasing an additional 3,748 shares during the quarter. AGF Management Ltd.’s holdings in Equity LifeStyle Properties were worth $2,482,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Mather Group LLC. acquired a new position in Equity LifeStyle Properties during the 1st quarter valued at about $25,000. Rise Advisors LLC acquired a new stake in shares of Equity LifeStyle Properties in the 1st quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new position in shares of Equity LifeStyle Properties in the second quarter valued at approximately $30,000. Blue Trust Inc. increased its stake in shares of 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 valued at $40,000 after acquiring an additional 391 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Equity LifeStyle Properties by 36.0% during the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 217 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ELS shares. Evercore ISI lifted their price target on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Truist Financial raised their target price on 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 reissued a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $68.88.

Insider Buying and Selling at Equity LifeStyle Properties

In other 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 sale, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Stock Up 1.4 %

Shares of Equity LifeStyle Properties stock opened at $76.25 on Friday. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.47. The firm has a market capitalization of $14.22 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average is $69.84 and its 200-day moving average is $65.74.

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

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.4775 dividend. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.50%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Equity LifeStyle Properties 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.