Franklin Resources Inc. Acquires 59,243 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Franklin Resources Inc. grew its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 809,801 shares of the real estate investment trust's stock after purchasing an additional 59,243 shares during the quarter. Franklin Resources Inc. owned about 0.42% of Equity LifeStyle Properties worth $55,034,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC increased its holdings in Equity LifeStyle Properties by 15.8% in the 3rd quarter. Tidal Investments LLC now owns 112,115 shares of the real estate investment trust's stock worth $7,998,000 after acquiring an additional 15,310 shares during the last quarter. Destination Wealth Management purchased a new stake in Equity LifeStyle Properties in the 3rd quarter worth approximately $262,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Equity LifeStyle Properties during the 3rd quarter valued at $72,000. Sanctuary Advisors LLC increased its position in shares of Equity LifeStyle Properties by 95.3% in the third quarter. Sanctuary Advisors LLC now owns 32,578 shares of the real estate investment trust's stock worth $2,311,000 after purchasing an additional 15,899 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Equity LifeStyle Properties by 31.4% during the 3rd quarter. Toronto Dominion Bank now owns 22,296 shares of the real estate investment trust's stock worth $1,591,000 after acquiring an additional 5,322 shares during the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Stock Up 0.6 %

ELS traded up $0.41 during trading on Tuesday, hitting $68.75. The company had a trading volume of 1,108,273 shares, compared to its average volume of 1,199,776. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The business has a 50-day moving average of $69.85 and a 200-day moving average of $68.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. The company has a market cap of $13.13 billion, a PE ratio of 35.44, a P/E/G ratio of 3.63 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share 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 quarter last year, the company earned $0.71 earnings per share. The business's revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.477 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a yield of 2.78%. Equity LifeStyle Properties's dividend payout ratio is presently 98.45%.

Wall Street Analyst Weigh In

ELS has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Compass Point upped 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. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a "hold" rating and a $72.00 target price for the company. Finally, Evercore ISI upped their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an "in-line" rating in a research note on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.