Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 56.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,232,008 shares of the real estate investment trust's stock after purchasing an additional 805,681 shares during the quarter. Principal Financial Group Inc. owned 1.20% of Equity LifeStyle Properties worth $159,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of ELS. V Square Quantitative Management LLC bought a new position in shares of Equity LifeStyle Properties during the 2nd quarter valued at about $30,000. UMB Bank n.a. raised its holdings in Equity LifeStyle Properties by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 417 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 391 shares during the period. GAMMA Investing LLC lifted its holdings in Equity LifeStyle Properties by 36.0% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust's stock worth $53,000 after buying an additional 217 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Equity LifeStyle Properties in the 2nd quarter worth about $54,000. Hedge funds and other institutional investors own 97.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial boosted their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, July 30th. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a "hold" rating and a $72.00 target price on the stock. Evercore ISI increased their target price on 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. UBS Group upgraded shares of Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Finally, Compass Point lifted their price target on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $72.40.

Insiders Place Their Bets

In related news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the transaction, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction dated 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 sale, the chief financial officer now owns 148,463 shares of the company's stock, valued at $11,109,486.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick Waite sold 20,820 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares of the company's stock, valued at $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,808 shares of company stock valued at $6,348,011. Insiders own 1.40% of the company's stock.

Equity LifeStyle Properties Stock Up 2.7 %

Equity LifeStyle Properties stock traded up $1.89 during mid-day trading on Friday, reaching $71.65. 567,517 shares of the company were exchanged, compared to its average volume of 1,206,631. 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 $13.69 billion, a P/E ratio of 35.95, a PEG ratio of 3.79 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. The business has a fifty day moving average of $70.91 and a 200 day moving average of $67.34.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $387.30 million for the quarter, compared to analysts' expectations of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The business's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS. Research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.9 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties's payout ratio is 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.