Oppenheimer Asset Management Inc. Takes $599,000 Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Oppenheimer Asset Management Inc. acquired a new stake in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,393 shares of the real estate investment trust's stock, valued at approximately $599,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELS. Clearbridge Investments LLC lifted its holdings in Equity LifeStyle Properties by 25.5% in the first quarter. Clearbridge Investments LLC now owns 414,323 shares of the real estate investment trust's stock worth $26,682,000 after acquiring an additional 84,214 shares during the last quarter. National Bank of Canada FI boosted its position in Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust's stock valued at $22,321,000 after purchasing an additional 354,718 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in Equity LifeStyle Properties by 3.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust's stock worth $21,952,000 after buying an additional 12,444 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Equity LifeStyle Properties in the first quarter worth $103,000. Finally, EntryPoint Capital LLC increased its position in Equity LifeStyle Properties by 266,700.0% in the first quarter. EntryPoint Capital LLC now owns 2,668 shares of the real estate investment trust's stock worth $172,000 after buying an additional 2,667 shares during the period. Institutional investors and hedge funds own 97.21% of the company's stock.

Wall Street Analysts Forecast Growth

ELS has been the subject of several recent research reports. UBS Group upgraded shares of Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Wells Fargo & Company raised Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Royal Bank of Canada reissued a "sector perform" rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Compass Point lifted their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI increased their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an "in-line" rating in a research note on Monday, October 21st. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Equity LifeStyle Properties has a consensus rating of "Moderate Buy" and an average price target of $72.50.

Equity LifeStyle Properties Price Performance

ELS stock traded down $0.19 on Wednesday, hitting $70.66. 1,043,891 shares of the company's stock traded hands, compared to its average volume of 1,212,505. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The stock has a market cap of $13.50 billion, a price-to-earnings ratio of 36.42, a P/E/G ratio of 3.76 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The stock has a fifty day moving average of $70.57 and a 200-day moving average of $68.01.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. During the same period in the prior year, the business earned $0.71 earnings per share. The business's revenue was down .4% compared to the same quarter last year. On average, analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties's payout ratio is 98.45%.

Insider Transactions at Equity LifeStyle Properties

In related news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the sale, the chief executive officer now directly owns 260,936 shares of the company's stock, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. This trade represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

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.