Bank of Montreal Can Raises Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Bank of Montreal Can grew its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 27.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 693,190 shares of the real estate investment trust's stock after purchasing an additional 151,273 shares during the period. Bank of Montreal Can owned about 0.36% of Equity LifeStyle Properties worth $49,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Equity LifeStyle Properties in the 3rd quarter valued at $117,000. Daiwa Securities Group Inc. lifted its stake in Equity LifeStyle Properties by 370.6% in the third quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust's stock worth $166,182,000 after purchasing an additional 1,834,491 shares during the last quarter. Swedbank AB lifted its stake in Equity LifeStyle Properties by 10.7% in the third quarter. Swedbank AB now owns 365,305 shares of the real estate investment trust's stock worth $26,061,000 after purchasing an additional 35,305 shares during the last quarter. Cerity Partners LLC boosted its position in Equity LifeStyle Properties by 43.5% during the third quarter. Cerity Partners LLC now owns 81,540 shares of the real estate investment trust's stock valued at $5,817,000 after buying an additional 24,727 shares during the period. Finally, Citigroup Inc. grew its stake in shares of Equity LifeStyle Properties by 16.7% during the third quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust's stock valued at $15,210,000 after buying an additional 30,489 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Trading Up 1.0 %

NYSE ELS traded up $0.72 during trading on Thursday, hitting $72.09. The company had a trading volume of 818,989 shares, compared to its average volume of 1,210,830. The company's fifty day moving average is $70.20 and its 200-day moving average is $68.30. The company has a market cap of $13.77 billion, a price-to-earnings ratio of 37.16, a price-to-earnings-growth ratio of 3.78 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $315.78 million. During the same period in the previous year, the company earned $0.71 earnings per share. Equity LifeStyle Properties's quarterly revenue was down .4% on a year-over-year basis. On average, sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.477 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.91 annualized dividend and a yield of 2.65%. Equity LifeStyle Properties's payout ratio is 98.45%.

Insiders Place Their Bets

In other news, CEO Marguerite M. Nader sold 33,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 260,936 shares of the company's stock, valued at $19,705,886.72. The trade was a 11.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, 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 owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ELS shares. Wells Fargo & Company upgraded Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Compass Point boosted their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a "hold" rating and a $72.00 target price on the stock. Truist Financial upped their price target on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. Finally, Robert W. Baird increased their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Equity LifeStyle Properties currently has an average rating of "Moderate Buy" and a consensus price target of $72.50.

Equity LifeStyle Properties Company 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.