Vinva Investment Management Ltd Acquires Shares of 7,353 Equity LifeStyle Properties, Inc. (NYSE:ELS)

Vinva Investment Management Ltd bought a new stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,353 shares of the real estate investment trust’s stock, valued at approximately $520,000.

A number of other hedge funds have also made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in shares of Equity LifeStyle Properties in the 2nd quarter worth about $30,000. UMB Bank n.a. increased its position in Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 417 shares during the period. Blue Trust Inc. lifted its stake in shares of Equity LifeStyle Properties by 167.1% in the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 391 shares during the period. GAMMA Investing LLC lifted its holdings in Equity LifeStyle Properties by 36.0% in 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 during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Equity LifeStyle Properties in the 2nd quarter worth approximately $54,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Insider Buying and Selling at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, 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 transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 directly owns 148,463 shares in the company, valued at $11,109,486.29. This trade represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ELS. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI lifted their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Compass Point increased their price objective 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. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group initiated 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 on the stock. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Price Performance

Shares of ELS stock opened at $71.33 on Friday. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 3.83 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. 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 firm’s 50 day moving average is $70.16 and its 200-day moving average is $68.43.

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 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 in the previous year, the firm posted $0.71 earnings per share. Equity LifeStyle Properties’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) 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.