Geode Capital Management LLC Increases Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Geode Capital Management LLC lifted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,833,596 shares of the real estate investment trust's stock after acquiring an additional 65,191 shares during the quarter. Geode Capital Management LLC owned 2.01% of Equity LifeStyle Properties worth $273,014,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vestcor Inc raised its position in Equity LifeStyle Properties by 34.9% in the 3rd quarter. Vestcor Inc now owns 5,609 shares of the real estate investment trust's stock worth $400,000 after purchasing an additional 1,450 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Equity LifeStyle Properties by 1.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,999 shares of the real estate investment trust's stock worth $20,046,000 after buying an additional 2,647 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in shares of Equity LifeStyle Properties by 213.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 18,277 shares of the real estate investment trust's stock worth $1,304,000 after acquiring an additional 12,454 shares during the last quarter. MML Investors Services LLC boosted its holdings in Equity LifeStyle Properties by 10.4% during the 3rd quarter. MML Investors Services LLC now owns 8,202 shares of the real estate investment trust's stock valued at $585,000 after acquiring an additional 770 shares during the period. Finally, National Bank of Canada FI grew its position in Equity LifeStyle Properties by 79.7% in the 3rd quarter. National Bank of Canada FI now owns 237,766 shares of the real estate investment trust's stock valued at $16,962,000 after acquiring an additional 105,435 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELS has been the subject of several research analyst reports. Truist Financial lifted 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. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $70.50 to $82.00 in a report on Thursday, September 19th. UBS Group upgraded shares of Equity LifeStyle Properties to a "strong-buy" rating in a research note on Thursday, October 10th. Robert W. Baird lifted 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 note on Tuesday, October 22nd. Finally, Jefferies Financial Group began coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a "hold" rating and a $72.00 price objective on the stock. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.50.

Equity LifeStyle Properties Stock Down 0.7 %

Equity LifeStyle Properties stock traded down $0.46 during mid-day trading on Friday, reaching $67.92. 918,198 shares of the company were exchanged, compared to its average volume of 1,200,356. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market cap of $12.98 billion, a P/E ratio of 35.01, a PEG ratio of 3.63 and a beta of 0.77. The business has a fifty day moving average of $69.84 and a 200 day moving average of $68.91. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month 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 EPS 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 during the quarter, compared to the consensus estimate of $315.78 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The company's revenue was down .4% on a year-over-year basis. Research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio is currently 98.45%.

Insider Transactions at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction dated Tuesday, September 17th. The stock was 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 in the company, valued at approximately $11,109,486.29. This trade represents a 17.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm's 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 disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

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.