Wealth Enhancement Advisory Services LLC increased its holdings in Equity Life Style Properties (NYSE:ELS – free report) by 41.0% in the second quarter, according to its latest filing with the Securities and Exchange Commission. The fund bought an additional 3,983 shares during the quarter, bringing its holdings to 13,699 shares of the real estate investment trust. Wealth Enhancement Advisory Services LLC's holdings in Equity Life Style Properties were worth $892,000 at the end of the latest reporting period.
A number of other institutional investors and hedge funds are buying and selling shares of the company. Cerity Partners LLC acquired a new stake in Equity LifeStyle Properties in the fourth quarter, valued at approximately $317,000. Lindbrook Capital LLC increased its stake in Equity LifeStyle Properties by 40.5% in the fourth quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust's stock, valued at $45,000, after purchasing an additional 182 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Equity LifeStyle Properties in the fourth quarter, valued at approximately $44,000. Yousif Capital Management LLC increased its stake in Equity LifeStyle Properties by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 93,843 shares of the real estate investment trust's stock valued at $6.62 million after purchasing an additional 243 shares in the last quarter. Finally, New Jersey State Common Pension Fund D increased its holdings in Equity Lifestyle Properties Inc. shares by 0.9% in the fourth quarter. New Jersey State Common Pension Fund D now owns 270,720 shares of the real estate investment trust's stock valued at $19.097 million after purchasing an additional 2,419 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.
Equity Lifestyle Properties Stock Performance
NYSE:ELS shares opened trading at $71.10 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc.'s one year low and high are $59.82 and $74.04. The company has a market cap of $13.26 billion, a PE ratio of 38.85, a P/E/G ratio of 4.06 and a beta of 0.77. The company's 50-day moving average price is $67.05 and its 200-day moving average price is $65.08.
Equity LifeStyle Properties (NYSE:ELS – Get free report ) last released its earnings results on Monday, July 22nd. The real estate investment trust reported quarterly earnings per share (EPS) of $0.42, missing the consensus estimate of $0.65 by ($0.23). The business had quarterly revenue of $380.0 million, beating analyst expectations of $334.53 million. Equity LifeStyle Properties had an ROE of 23.71% and a net margin of 23.56%. The company's revenue for the quarter grew 2.7% year-over-year. During the same period last year, the company earned earnings per share of $0.66. Equity research analysts expect Equity LifeStyle Properties, Inc. to post earnings per share of $2.91 for the current fiscal year.
Equity Lifestyle Properties Increases Dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.4775. This is an increase from Equity LifeStyle Properties' previous quarterly dividend of $0.48. The ex-dividend date is Friday, September 27th. This equates to a dividend of $1.91 on an annualized basis, or a yield of 2.69%. Equity LifeStyle Properties' dividend payout ratio is currently 104.37%.
Insiders bet
In other news, COO Patrick Waite sold 20,820 shares of the company's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the sale, the COO now directly owns 221,777 shares of the company's stock, valued at $15,575,398.71. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available on the SEC's website. Company insiders now own 1.40% of the company's stock.
Analysts Set New Price Targets
Several research firms have offered their opinions on ELS. Evercore ISI increased their price target on Equity LifeStyle Properties from $69.00 to $72.00 and gave the company an “in-line” rating in a report on Tuesday, July 23rd. Royal Bank of Canada reaffirmed their “sector perform” rating and $68.00 price target on Equity LifeStyle Properties in a research note on Wednesday, July 24th. Truist Financial increased their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Barclays lowered their price target on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26. Eight equities research analysts have rated the stock with a “hold” rating, and two have rated it with a “buy” rating. According to MarketBeat data, the company currently has an average rating of “hold” and a consensus price target of $68.94.
Read the latest stock report on ELS
Equity Lifestyle Properties Company Profile
(Free report)
The Company is a self-administered real estate investment trust (REIT) headquartered in Chicago. As of January 29, 2024, the Company owns or has interests in 451 properties consisting of 172,465 sites in 35 states and British Columbia.
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