UniSuper Management Pty Ltd Raises Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

UniSuper Management Pty Ltd lifted its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,500 shares of the real estate investment trust’s stock after acquiring an additional 1,500 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Equity LifeStyle Properties were worth $3,445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James & Associates increased its position in Equity LifeStyle Properties by 19.4% in the fourth quarter. Raymond James & Associates now owns 77,485 shares of the real estate investment trust’s stock worth $5,466,000 after buying an additional 12,579 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Equity LifeStyle Properties by 13.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 5,414 shares of the real estate investment trust’s stock worth $382,000 after buying an additional 656 shares during the last quarter. Pacer Advisors Inc. increased its position in Equity LifeStyle Properties by 97.4% in the fourth quarter. Pacer Advisors Inc. now owns 30,897 shares of the real estate investment trust’s stock worth $2,179,000 after buying an additional 15,246 shares during the last quarter. ZRC Wealth Management LLC purchased a new stake in Equity LifeStyle Properties in the fourth quarter worth $1,347,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Equity LifeStyle Properties in the fourth quarter worth $77,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ELS shares. Barclays decreased their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Truist Financial decreased their target price on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Finally, Evercore ISI raised their price target on Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an “in-line” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Equity LifeStyle Properties has an average rating of “Hold” and a consensus price target of $68.61.

Equity LifeStyle Properties Price Performance

NYSE:ELS traded down $1.42 during trading hours on Tuesday, hitting $66.31. 2,191,237 shares of the company’s stock traded hands, compared to its average volume of 1,234,460. The firm has a market cap of $12.37 billion, a P/E ratio of 36.23, a P/E/G ratio of 4.00 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $74.04. The business’s fifty day simple moving average is $64.06 and its two-hundred day simple moving average is $64.84. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.23). The business had revenue of $380.00 million for the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a net margin of 22.69% and a return on equity of 22.71%. Equity LifeStyle Properties’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. On average, research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.9 earnings per share for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

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.