JPMorgan Chase & Co. Has $339.71 Million Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

JPMorgan Chase & Co. lifted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,761,879 shares of the real estate investment trust's stock after buying an additional 147,332 shares during the quarter. JPMorgan Chase & Co. owned about 2.49% of Equity LifeStyle Properties worth $339,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. increased its position in Equity LifeStyle Properties by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust's stock worth $331,707,000 after buying an additional 39,864 shares during the period. Geode Capital Management LLC increased its position in Equity LifeStyle Properties by 1.7% during the third quarter. Geode Capital Management LLC now owns 3,833,596 shares of the real estate investment trust's stock worth $273,014,000 after acquiring an additional 65,191 shares during the period. Massachusetts Financial Services Co. MA increased its position in Equity LifeStyle Properties by 5.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust's stock worth $209,630,000 after acquiring an additional 153,715 shares during the period. Dimensional Fund Advisors LP raised its stake in Equity LifeStyle Properties by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust's stock valued at $176,250,000 after purchasing an additional 178,258 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Equity LifeStyle Properties by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,441,191 shares of the real estate investment trust's stock valued at $174,155,000 after purchasing an additional 87,609 shares during the period. 97.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ELS. UBS Group raised shares of Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a "hold" rating and a $72.00 price target for the company. Truist Financial lifted their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. Robert W. Baird upped their target price on 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, Compass Point lifted their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Equity LifeStyle Properties presently has a consensus rating of "Moderate Buy" and an average target price of $72.50.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock traded down $0.54 during mid-day trading on Monday, reaching $66.06. 826,641 shares of the stock were exchanged, compared to its average volume of 1,209,756. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 3.61 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $69.61 and a 200 day simple moving average of $69.27.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last posted 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). The firm had revenue of $387.30 million during the quarter, compared to the consensus estimate 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 was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. On average, sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.89%. 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.