Van ECK Associates Corp Acquires 8,849 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Van ECK Associates Corp increased its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 12.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,480 shares of the real estate investment trust's stock after acquiring an additional 8,849 shares during the period. Van ECK Associates Corp's holdings in Equity LifeStyle Properties were worth $5,752,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Equity LifeStyle Properties in the third quarter valued at approximately $75,000. Farther Finance Advisors LLC increased its holdings in shares of Equity LifeStyle Properties by 6.0% during the third quarter. Farther Finance Advisors LLC now owns 21,141 shares of the real estate investment trust's stock worth $1,508,000 after purchasing an additional 1,203 shares during the period. US Bancorp DE raised its position in shares of Equity LifeStyle Properties by 4.0% in the third quarter. US Bancorp DE now owns 13,430 shares of the real estate investment trust's stock valued at $958,000 after buying an additional 513 shares in the last quarter. Financial Advocates Investment Management boosted its stake in shares of Equity LifeStyle Properties by 5.5% in the third quarter. Financial Advocates Investment Management now owns 6,248 shares of the real estate investment trust's stock valued at $446,000 after buying an additional 327 shares during the period. Finally, State of Alaska Department of Revenue grew its position in Equity LifeStyle Properties by 0.3% during the third quarter. State of Alaska Department of Revenue now owns 131,231 shares of the real estate investment trust's stock worth $9,360,000 after buying an additional 438 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELS has been the topic of several analyst reports. UBS Group upgraded Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Compass Point boosted their target price on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Evercore ISI upped their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. Royal Bank of Canada reissued a "sector perform" rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Finally, Robert W. Baird upped their target price 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. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.40.

Insiders Place Their Bets

In other news, CFO Paul Seavey sold 31,988 shares of the firm's stock in a transaction on Tuesday, September 17th. The shares were 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 approximately $11,109,486.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the company's 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 sale, the chief financial officer now owns 148,463 shares in the company, valued at approximately $11,109,486.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Patrick Waite sold 20,820 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the transaction, the chief operating officer now owns 221,777 shares of the company's stock, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock valued at $6,348,011 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS traded up $1.85 during trading on Friday, hitting $71.61. 410,437 shares of the company were exchanged, compared to its average volume of 1,205,907. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The company has a market capitalization of $13.68 billion, a P/E ratio of 35.95, a price-to-earnings-growth ratio of 3.79 and a beta of 0.79. 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 business's 50 day moving average is $70.91 and its 200-day moving average is $67.34.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last issued its 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). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The firm had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same period in the previous year, the company earned $0.71 EPS. Equity LifeStyle Properties's revenue for the quarter was down .4% on a year-over-year basis. Equities analysts forecast that Equity LifeStyle Properties, Inc. will post 2.9 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a dividend of $0.477 per share. The ex-dividend date is Friday, December 27th. This represents a $1.91 annualized dividend and a yield of 2.66%. Equity LifeStyle Properties's dividend payout ratio is presently 98.45%.

Equity LifeStyle Properties Company 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.