CIBC Asset Management Inc Raises Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

CIBC Asset Management Inc boosted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 5.5% in the third quarter, Holdings Channel.com reports. The firm owned 6,591 shares of the real estate investment trust’s stock after buying an additional 345 shares during the quarter. CIBC Asset Management Inc’s holdings in Equity LifeStyle Properties were worth $470,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board lifted its holdings in Equity LifeStyle Properties by 1.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,448,775 shares of the real estate investment trust’s stock valued at $93,301,000 after purchasing an additional 27,600 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Equity LifeStyle Properties in the first quarter valued at $122,000. Magnetar Financial LLC bought a new stake in shares of Equity LifeStyle Properties in the 1st quarter worth about $4,440,000. BOKF NA raised its position in Equity LifeStyle Properties by 2.2% during the first quarter. BOKF NA now owns 16,201 shares of the real estate investment trust’s stock valued at $1,025,000 after purchasing an additional 346 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in Equity LifeStyle Properties in the first quarter worth $876,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Insider Activity

In related news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the sale, the chief executive officer now directly owns 260,936 shares in the company, valued at $19,705,886.72. This trade represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Compass Point upped their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Truist Financial raised their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Robert W. Baird increased their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Finally, Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.50.

Equity LifeStyle Properties Stock Up 0.1 %

ELS stock opened at $70.77 on Friday. The firm has a market cap of $13.52 billion, a PE ratio of 36.48, a P/E/G ratio of 3.76 and a beta of 0.79. The firm’s fifty day moving average is $70.57 and its 200 day moving average is $68.01. 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 one year low of $59.82 and a one year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. During the same quarter last year, the company earned $0.71 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is 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.