OneAscent Wealth Management LLC purchased a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,263 shares of the real estate investment trust’s stock, valued at approximately $285,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELS. Raleigh Capital Management Inc. bought a new stake in Equity LifeStyle Properties during the first quarter worth $28,000. Eagle Bay Advisors LLC bought a new stake in Equity LifeStyle Properties during the second quarter worth $30,000. Exchange Traded Concepts LLC raised its position in Equity LifeStyle Properties by 314.8% during the first quarter. Exchange Traded Concepts LLC now owns 506 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 384 shares in the last quarter. Ronald Blue Trust Inc. raised its position in Equity LifeStyle Properties by 33.3% during the first quarter. Ronald Blue Trust Inc. now owns 804 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 201 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Equity LifeStyle Properties in the first quarter valued at about $59,000. 98.55% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Equity LifeStyle Properties from $79.00 to $78.00 in a research report on Thursday, July 6th. Truist Financial increased their price objective on shares of Equity LifeStyle Properties from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Royal Bank of Canada dropped their price objective on shares of Equity LifeStyle Properties from $70.00 to $69.00 in a research report on Wednesday, July 19th. Robert W. Baird dropped their price objective on shares of Equity LifeStyle Properties from $79.00 to $76.00 in a research report on Wednesday, July 19th. Finally, StockNews.com lowered shares of Equity LifeStyle Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.50.
Equity LifeStyle Properties Stock Performance
Shares of ELS stock traded up $0.09 on Friday, hitting $67.14. The company’s stock had a trading volume of 2,994,230 shares, compared to its average volume of 901,402. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.03 and a current ratio of 0.03. The stock’s 50 day moving average is $67.96 and its 200-day moving average is $66.90. Equity LifeStyle Properties, Inc. has a fifty-two week low of $56.91 and a fifty-two week high of $74.40. The company has a market capitalization of $12.51 billion, a PE ratio of 43.86, a PEG ratio of 4.81 and a beta of 0.69.
Equity LifeStyle Properties (NYSE:ELS – Get Free Report) last announced its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The firm had revenue of $370.01 million for the quarter, compared to analyst estimates of $325.08 million. Equity LifeStyle Properties had a return on equity of 18.86% and a net margin of 19.53%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share. Equities research analysts expect that Equity LifeStyle Properties, Inc. will post 2.85 earnings per share for the current fiscal year.
Equity LifeStyle Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.447 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.79 dividend on an annualized basis and a yield of 2.66%. Equity LifeStyle Properties’s payout ratio is 116.99%.
Equity LifeStyle Properties Company Profile
We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of July 17, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,706 sites.
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