97,917 Shares in Equity LifeStyle Properties, Inc. (NYSE:ELS) Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. bought a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 97,917 shares of the real estate investment trust’s stock, valued at approximately $6,549,000. Jupiter Asset Management Ltd. owned 0.05% of Equity LifeStyle Properties at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in Equity LifeStyle Properties by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,081,947 shares of the real estate investment trust’s stock worth $139,261,000 after buying an additional 18,835 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Equity LifeStyle Properties by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,514,978 shares of the real estate investment trust’s stock worth $168,226,000 after purchasing an additional 33,639 shares during the period. BNP Paribas Arbitrage SNC raised its holdings in shares of Equity LifeStyle Properties by 57.2% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 66,258 shares of the real estate investment trust’s stock worth $4,432,000 after purchasing an additional 24,103 shares during the period. AGF Management Ltd. raised its holdings in shares of Equity LifeStyle Properties by 8.2% in the 2nd quarter. AGF Management Ltd. now owns 54,243 shares of the real estate investment trust’s stock worth $3,628,000 after purchasing an additional 4,125 shares during the period. Finally, TD Asset Management Inc raised its holdings in shares of Equity LifeStyle Properties by 4.3% in the 2nd quarter. TD Asset Management Inc now owns 313,872 shares of the real estate investment trust’s stock worth $20,995,000 after purchasing an additional 13,056 shares during the period. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Price Performance

ELS stock opened at $69.54 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties, Inc. has a 1 year low of $60.47 and a 1 year high of $74.40. The firm has a market cap of $12.96 billion, a P/E ratio of 44.01, a price-to-earnings-growth ratio of 6.74 and a beta of 0.70. The stock has a 50-day simple moving average of $65.73 and a 200-day simple moving average of $66.71.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.31). Equity LifeStyle Properties had a net margin of 20.10% and a return on equity of 19.58%. The business had revenue of $388.80 million for the quarter, compared to analyst estimates of $337.88 million. During the same quarter last year, the business earned $0.70 EPS. Equity LifeStyle Properties’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts predict that Equity LifeStyle Properties, Inc. will post 2.85 earnings per share for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.447 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.79 dividend on an annualized basis and a yield of 2.57%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 113.29%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ELS. Truist Financial raised their price objective on Equity LifeStyle Properties from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Wells Fargo & Company downgraded Equity LifeStyle Properties from an “overweight” rating to an “equal weight” rating and set a $70.50 price objective on the stock. in a report on Tuesday, September 5th. Bank of America downgraded Equity LifeStyle Properties from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $70.00 to $64.00 in a report on Monday, October 23rd. Evercore ISI cut their price objective on Equity LifeStyle Properties from $70.00 to $67.00 in a report on Monday, October 9th. Finally, StockNews.com upgraded Equity LifeStyle Properties from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Equity LifeStyle Properties currently has an average rating of “Hold” and an average target price of $71.17.

About Equity LifeStyle Properties

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.