Sanctuary Advisors LLC grew its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS – Free Report) by 95.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 32,578 shares of the real estate investment trust’s stock after buying an additional 15,899 shares during the period. Sanctuary Advisors LLC’s holdings in Equity LifeStyle Properties were worth $2,311,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. UMB Bank n.a. increased its position in Equity LifeStyle Properties by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 417 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Equity LifeStyle Properties by 31.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 146 shares during the last quarter. Blue Trust Inc. raised its stake in Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 391 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Equity LifeStyle Properties in the second quarter valued at $54,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Equity LifeStyle Properties during the third quarter valued at $75,000. 97.21% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently weighed in on ELS shares. Robert W. Baird lifted their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 price target on the stock. Truist Financial lifted their price objective on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Six equities research 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 company’s stock. Based on data from MarketBeat.com, Equity LifeStyle Properties has an average rating of “Moderate Buy” and a consensus target price of $72.50.
Equity LifeStyle Properties Price Performance
Shares of NYSE ELS opened at $66.66 on Thursday. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 3.63 and a beta of 0.77. 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 fifty-two week low of $59.82 and a fifty-two week high of $76.60. The firm’s 50-day simple moving average is $69.90 and its 200 day simple moving average is $69.00.
Equity LifeStyle Properties (NYSE:ELS – Get Free Report) last posted its 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). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The company had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. During the same quarter in the prior year, the business earned $0.71 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.
Equity LifeStyle Properties Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a $0.477 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.86%. Equity LifeStyle Properties’s dividend payout ratio is currently 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.
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