Farrow Financial Inc. Increases Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Farrow Financial Inc. lifted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,691 shares of the real estate investment trust’s stock after buying an additional 602 shares during the quarter. Farrow Financial Inc.’s holdings in Equity LifeStyle Properties were worth $1,619,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Equity LifeStyle Properties by 119.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,204 shares of the real estate investment trust’s stock valued at $1,642,000 after acquiring an additional 12,651 shares during the last quarter. Outlook Wealth Advisors LLC increased its position in shares of Equity LifeStyle Properties by 5.9% during the third quarter. Outlook Wealth Advisors LLC now owns 5,440 shares of the real estate investment trust’s stock worth $388,000 after purchasing an additional 301 shares in the last quarter. Greenleaf Trust purchased a new stake in shares of Equity LifeStyle Properties in the 3rd quarter valued at about $207,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Equity LifeStyle Properties in the 3rd quarter valued at about $218,000. Finally, Dupont Capital Management Corp grew its stake in Equity LifeStyle Properties by 14.8% during the 3rd quarter. Dupont Capital Management Corp now owns 146,426 shares of the real estate investment trust’s stock worth $10,446,000 after buying an additional 18,879 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Performance

ELS traded down $0.60 during trading on Friday, reaching $69.39. The company’s stock had a trading volume of 951,902 shares, compared to its average volume of 1,205,305. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The company’s fifty day moving average price is $71.14 and its 200-day moving average price is $66.87. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. The company has a market capitalization of $12.94 billion, a price-to-earnings ratio of 35.77, a price-to-earnings-growth ratio of 3.75 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The business had revenue of $387.30 million during 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 firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. On average, equities analysts forecast that Equity LifeStyle Properties, Inc. will post 2.9 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.4775 per share. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

Insider Buying and Selling

In related news, CFO Paul Seavey sold 31,988 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was 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 owns 148,463 shares of the company’s stock, valued at $11,109,486.29. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,808 shares of company stock valued at $6,348,011. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

ELS has been the subject of a number of research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price target for the company. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Evercore ISI upped their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Finally, Robert W. Baird increased their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday. Seven equities 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. According to data from MarketBeat, Equity LifeStyle Properties currently has an average rating of “Moderate Buy” and a consensus price target of $72.40.

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.