Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 569.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 494,940 shares of the real estate investment trust’s stock after purchasing an additional 421,062 shares during the quarter. Daiwa Securities Group Inc. owned about 0.27% of Equity LifeStyle Properties worth $32,235,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Equity LifeStyle Properties during the 4th quarter valued at $455,623,000. PGGM Investments increased its stake in Equity LifeStyle Properties by 4,586.1% during the second quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after acquiring an additional 1,804,156 shares during the last quarter. Boston Partners raised its holdings in shares of Equity LifeStyle Properties by 122.4% in the 4th quarter. Boston Partners now owns 2,728,675 shares of the real estate investment trust’s stock worth $192,469,000 after purchasing an additional 1,501,692 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Equity LifeStyle Properties by 55.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock valued at $97,357,000 after purchasing an additional 536,864 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Equity LifeStyle Properties by 4,590.4% in the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock valued at $29,614,000 after purchasing an additional 450,042 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the sale, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ELS has been the subject of several research reports. Evercore ISI boosted their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Royal Bank of Canada reissued a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, Truist Financial increased their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.88.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $74.22 on Tuesday. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $74.61. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 4.26 and a beta of 0.79. The business’s 50 day moving average is $69.15 and its two-hundred day moving average is $65.55.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.23). The company had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. Equity LifeStyle Properties’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. Analysts forecast that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given 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 2.57%. The ex-dividend date is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

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.