Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 13.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 165,021 shares of the real estate investment trust’s stock after acquiring an additional 19,282 shares during the period. The Manufacturers Life Insurance Company’s holdings in Equity LifeStyle Properties were worth $11,773,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ELS. Walleye Trading LLC acquired a new position in shares of Equity LifeStyle Properties during the first quarter valued at approximately $390,000. GAMMA Investing LLC grew its stake 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 valued at $53,000 after acquiring an additional 217 shares in the last quarter. DNB Asset Management AS raised its holdings in Equity LifeStyle Properties by 13.8% in the 2nd quarter. DNB Asset Management AS now owns 28,155 shares of the real estate investment trust’s stock valued at $1,834,000 after acquiring an additional 3,419 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in Equity LifeStyle Properties in the 2nd quarter worth approximately $9,429,000. Finally, Aurora Investment Managers LLC. boosted its holdings in shares of Equity LifeStyle Properties by 25.7% during the 2nd quarter. Aurora Investment Managers LLC. now owns 38,832 shares of the real estate investment trust’s stock worth $2,529,000 after purchasing an additional 7,940 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the sale, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. This represents a 17.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction dated Monday, September 16th. The shares were 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 owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Equity LifeStyle Properties Price Performance

Equity LifeStyle Properties stock opened at $70.35 on Tuesday. The company’s 50 day simple moving average is $70.11 and its 200-day simple moving average is $68.51. 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 1 year low of $59.82 and a 1 year high of $76.60. The company has a market capitalization of $13.44 billion, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 3.79 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced 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). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same period in the previous year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts expect 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. Investors of record on Friday, December 27th will be issued a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 98.45%.

Analyst Ratings Changes

Several equities research analysts recently commented on ELS shares. Compass Point increased their price target on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird raised their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. 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 research report on Monday, October 21st. Jefferies Financial Group began 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 objective for the company. Finally, Truist Financial boosted their target price on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Six research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.50.

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.