Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Acquired by AGF Management Ltd.

AGF Management Ltd. boosted its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 8.2% during the second quarter, Holdings Channel.com reports. The fund owned 54,243 shares of the real estate investment trust’s stock after acquiring an additional 4,125 shares during the period. AGF Management Ltd.’s holdings in Equity LifeStyle Properties were worth $3,628,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TD Asset Management Inc grew its position in shares of Equity LifeStyle Properties by 4.3% in the second quarter. TD Asset Management Inc now owns 313,872 shares of the real estate investment trust’s stock valued at $20,995,000 after purchasing an additional 13,056 shares during the period. Banque Cantonale Vaudoise lifted its position in Equity LifeStyle Properties by 213.3% during the second quarter. Banque Cantonale Vaudoise now owns 4,700 shares of the real estate investment trust’s stock valued at $315,000 after buying an additional 3,200 shares in the last quarter. California Public Employees Retirement System grew its stake in Equity LifeStyle Properties by 2.3% during the second quarter. California Public Employees Retirement System now owns 588,150 shares of the real estate investment trust’s stock worth $39,341,000 after buying an additional 13,439 shares during the period. Andra AP fonden increased its position in shares of Equity LifeStyle Properties by 10.2% in the second quarter. Andra AP fonden now owns 161,100 shares of the real estate investment trust’s stock worth $10,776,000 after acquiring an additional 14,900 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Equity LifeStyle Properties by 9.1% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 173,432 shares of the real estate investment trust’s stock valued at $11,601,000 after acquiring an additional 14,474 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Bank of America downgraded Equity LifeStyle Properties from a “buy” rating to a “neutral” rating and lowered their price target for the company from $70.00 to $64.00 in a report on Monday, October 23rd. Royal Bank of Canada dropped their target price on Equity LifeStyle Properties from $70.00 to $69.00 in a report on Wednesday, July 19th. Truist Financial upped their price target on Equity LifeStyle Properties from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Robert W. Baird dropped their price objective on shares of Equity LifeStyle Properties from $79.00 to $76.00 in a research note on Wednesday, July 19th. Finally, StockNews.com upgraded shares of Equity LifeStyle Properties from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.17.

Equity LifeStyle Properties Stock Up 0.6 %

ELS stock opened at $69.38 on Thursday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33. The firm has a 50 day simple moving average of $65.57 and a 200-day simple moving average of $66.68. The company has a market capitalization of $12.93 billion, a P/E ratio of 43.91, a PEG ratio of 6.30 and a beta of 0.70. Equity LifeStyle Properties, Inc. has a twelve month low of $60.47 and a twelve month high of $74.40.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.31). The company had revenue of $388.80 million for the quarter, compared to analyst estimates of $337.88 million. Equity LifeStyle Properties had a return on equity of 19.58% and a net margin of 20.10%. Equity LifeStyle Properties’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 earnings per share. On average, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.447 per share. This represents a $1.79 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, December 28th. Equity LifeStyle Properties’s dividend payout ratio is presently 113.29%.

Equity LifeStyle Properties Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of October 16, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,707 sites.