Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 186,298 shares of the real estate investment trust’s stock after purchasing an additional 6,076 shares during the period. BNP Paribas Financial Markets’ holdings in Equity LifeStyle Properties were worth $13,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ELS. Moran Wealth Management LLC raised its stake in Equity LifeStyle Properties by 0.8% during the 3rd quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust’s stock valued at $1,264,000 after acquiring an additional 143 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Equity LifeStyle Properties by 31.3% during the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 146 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of Equity LifeStyle Properties by 0.6% during the second quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock worth $1,745,000 after purchasing an additional 152 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Equity LifeStyle Properties by 0.9% during the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock worth $1,106,000 after purchasing an additional 154 shares during the period. Finally, LRI Investments LLC increased its stake in Equity LifeStyle Properties by 8.7% in the 2nd quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 171 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $71.33 on Monday. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. The stock has a market cap of $13.63 billion, a P/E ratio of 36.77, a PEG ratio of 3.79 and a beta of 0.79. 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 company has a 50-day moving average of $70.16 and a two-hundred day moving average of $68.46.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) 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 analysts’ expectations 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 quarterly revenue 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, research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

Insider Activity at Equity LifeStyle Properties

In related news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $2,393,662.04. Following the completion of the sale, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. The trade was a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ELS. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI raised their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price target for the company. Finally, Truist Financial upped their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.