Caprock Group LLC Buys New Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Caprock Group LLC purchased a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm purchased 763,960 shares of the real estate investment trust's stock, valued at approximately $54,866,000. Equity LifeStyle Properties accounts for 2.0% of Caprock Group LLC's portfolio, making the stock its 7th largest holding. Caprock Group LLC owned 0.40% of Equity LifeStyle Properties as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELS. V Square Quantitative Management LLC boosted its holdings in shares of Equity LifeStyle Properties by 31.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust's stock worth $44,000 after buying an additional 146 shares in the last quarter. Johnson Investment Counsel Inc. grew its holdings in Equity LifeStyle Properties by 0.6% in the second quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust's stock worth $1,745,000 after purchasing an additional 152 shares during the period. Toronto Dominion Bank increased its stake in Equity LifeStyle Properties by 0.9% in the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust's stock valued at $1,106,000 after purchasing an additional 154 shares in the last quarter. LRI Investments LLC raised its holdings in shares of Equity LifeStyle Properties by 8.7% during the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust's stock valued at $139,000 after purchasing an additional 171 shares during the period. Finally, Farrow Financial Inc. boosted its position in shares of Equity LifeStyle Properties by 1.0% during the 2nd quarter. Farrow Financial Inc. now owns 22,089 shares of the real estate investment trust's stock worth $1,439,000 after purchasing an additional 211 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. 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 report on Monday, October 21st. Truist Financial boosted their price target on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. UBS Group raised shares of Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Robert W. Baird raised 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. Finally, Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They set a "hold" rating and a $72.00 price objective for the company. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $72.50.

Insider Buying and Selling

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

Equity LifeStyle Properties Stock Performance

Shares of NYSE:ELS traded down $0.14 during midday trading on Tuesday, reaching $70.85. 1,153,024 shares of the company traded hands, compared to its average volume of 1,213,111. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The firm's fifty day moving average price is $70.66 and its two-hundred day moving average price is $67.99. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 36.52, a price-to-earnings-growth ratio of 3.76 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced 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). The firm had revenue of $387.30 million during the quarter, compared to analysts' expectations of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share. On average, equities analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio is 98.45%.

About Equity LifeStyle Properties

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.