M&T Bank Corp Has $6.46 Million Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

M&T Bank Corp lowered its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 90,612 shares of the real estate investment trust’s stock after selling 198 shares during the period. M&T Bank Corp’s holdings in Equity LifeStyle Properties were worth $6,464,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELS. Raymond James & Associates increased its holdings in Equity LifeStyle Properties by 27.7% in the 2nd quarter. Raymond James & Associates now owns 100,114 shares of the real estate investment trust’s stock valued at $6,520,000 after buying an additional 21,686 shares during the period. Fifth Third Bancorp boosted its position in shares of Equity LifeStyle Properties by 8.7% during the 2nd quarter. Fifth Third Bancorp now owns 4,947 shares of the real estate investment trust’s stock worth $322,000 after acquiring an additional 394 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Equity LifeStyle Properties by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 1,853,283 shares of the real estate investment trust’s stock valued at $120,704,000 after acquiring an additional 27,773 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Equity LifeStyle Properties by 25.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,426 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 486 shares during the last quarter. Finally, Eagle Bay Advisors LLC boosted its holdings in shares of Equity LifeStyle Properties by 1,544.0% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,381 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 1,297 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ELS shares. Evercore ISI boosted their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Compass Point boosted their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Robert W. Baird raised their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.50.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $66.61 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The firm has a market cap of $12.73 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 3.61 and a beta of 0.77. The firm’s fifty day moving average is $69.86 and its 200-day moving average is $69.06.

Equity LifeStyle Properties (NYSE:ELS) last announced its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate 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 return on equity of 24.10% and a net margin of 23.97%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. Sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders 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 2.86%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

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.