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

M&T Bank Corp lessened its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.2% during the third quarter, Holdings Channel reports. The fund owned 90,612 shares of the real estate investment trust’s stock after selling 198 shares during the quarter. M&T Bank Corp’s holdings in Equity LifeStyle Properties were worth $6,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Victory Capital Management Inc. boosted its position in shares of Equity LifeStyle Properties by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock worth $331,707,000 after purchasing an additional 39,864 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Equity LifeStyle Properties by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,833,596 shares of the real estate investment trust’s stock worth $273,014,000 after acquiring an additional 65,191 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Equity LifeStyle Properties by 5.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock valued at $209,630,000 after acquiring an additional 153,715 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Equity LifeStyle Properties by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock valued at $176,250,000 after acquiring an additional 178,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Equity LifeStyle Properties by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,441,191 shares of the real estate investment trust’s stock worth $174,155,000 after purchasing an additional 87,609 shares during the period. 97.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ELS has been the subject of a number of recent research reports. 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 note on Monday, October 21st. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 price objective for the company. Finally, Compass Point raised 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. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.50.

Equity LifeStyle Properties Stock Performance

ELS stock opened at $66.61 on Monday. The business has a 50 day moving average of $69.86 and a 200-day moving average of $69.06. The firm has a market cap of $12.73 billion, a PE ratio of 34.34, a P/E/G ratio of 3.61 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. 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 (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 the consensus estimate of $0.72 by ($0.28). The business had revenue of $387.30 million for 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%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. As a group, sell-side analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is 98.45%.

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.