Daiwa Securities Group Inc. Acquires 1,834,491 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Daiwa Securities Group Inc. increased its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 370.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,329,431 shares of the real estate investment trust's stock after purchasing an additional 1,834,491 shares during the period. Daiwa Securities Group Inc. owned 1.22% of Equity LifeStyle Properties worth $166,182,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ELS. Moran Wealth Management LLC grew its stake in shares of Equity LifeStyle Properties by 0.8% in the 3rd quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust's stock valued at $1,264,000 after purchasing an additional 143 shares during the last quarter. V Square Quantitative Management LLC grew its position in Equity LifeStyle Properties by 31.3% during the third 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 during the period. 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 valued at $1,745,000 after purchasing an additional 152 shares during the last quarter. Toronto Dominion Bank increased its holdings in Equity LifeStyle Properties by 0.9% during the 2nd quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust's stock valued at $1,106,000 after acquiring an additional 154 shares in the last quarter. Finally, LRI Investments LLC raised its position in shares of Equity LifeStyle Properties by 8.7% during the 2nd quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust's stock worth $139,000 after purchasing an additional 171 shares during the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Stock Performance

Shares of ELS traded up $0.10 during trading hours on Friday, reaching $70.94. 1,094,935 shares of the company's stock traded hands, compared to its average volume of 1,256,897. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The firm has a market capitalization of $13.55 billion, a price-to-earnings ratio of 36.57, a P/E/G ratio of 3.76 and a beta of 0.79. The business's fifty day simple moving average is $70.38 and its two-hundred day simple moving average is $68.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced 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). The firm had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The company's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. 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 disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given 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 payout ratio is 98.45%.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the business'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 completion of the sale, the chief financial officer now directly owns 148,463 shares of the company's stock, valued at $11,109,486.29. The trade was a 17.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the transaction, 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 disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ELS. Evercore ISI boosted their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an "in-line" rating in a research report on Monday, October 21st. Wells Fargo & Company upgraded Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Compass Point raised 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. UBS Group raised shares of Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Finally, Truist Financial increased their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. Six equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $72.50.

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.