Bar Harbor Wealth Management Sells 8,361 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Bar Harbor Wealth Management trimmed its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 11.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,885 shares of the real estate investment trust's stock after selling 8,361 shares during the quarter. Bar Harbor Wealth Management's holdings in Equity LifeStyle Properties were worth $4,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Equity LifeStyle Properties by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust's stock worth $339,713,000 after purchasing an additional 147,332 shares during the last quarter. Victory Capital Management Inc. grew its position in Equity LifeStyle Properties by 0.9% during the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust's stock valued at $331,707,000 after buying an additional 39,864 shares during the period. Geode Capital Management LLC increased its holdings in Equity LifeStyle Properties by 1.7% during the third quarter. Geode Capital Management LLC now owns 3,833,596 shares of the real estate investment trust's stock worth $273,014,000 after buying an additional 65,191 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Equity LifeStyle Properties by 5.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust's stock worth $209,630,000 after buying an additional 153,715 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Equity LifeStyle Properties by 7.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust's stock valued at $176,250,000 after acquiring an additional 178,258 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ELS shares. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Truist Financial raised their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. Compass Point upped their price target 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. Robert W. Baird increased their price target on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Finally, Evercore ISI boosted their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an "in-line" rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $73.30.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock traded up $0.65 during trading on Monday, hitting $65.12. The stock had a trading volume of 1,311,374 shares, compared to its average volume of 1,424,268. 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 12 month low of $59.82 and a 12 month high of $76.60. The firm has a market cap of $12.44 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 3.61 and a beta of 0.79. The business's 50-day moving average is $68.98 and its 200 day moving average is $69.43.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The company had revenue of $387.30 million during the quarter, compared to analysts' expectations of $315.78 million. During the same period in the prior year, the business earned $0.71 earnings per share. The company's revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.477 per share. The ex-dividend date was Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.93%. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 98.45%.

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.