KBC Group NV Buys 138,759 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

KBC Group NV increased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 518.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,518 shares of the real estate investment trust's stock after purchasing an additional 138,759 shares during the period. KBC Group NV owned approximately 0.09% of Equity LifeStyle Properties worth $11,808,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new stake in Equity LifeStyle Properties during the 3rd quarter worth approximately $599,000. MQS Management LLC bought a new stake in shares of Equity LifeStyle Properties during the third quarter worth $346,000. Victory Capital Management Inc. lifted its position in shares of Equity LifeStyle Properties by 0.9% during the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust's stock worth $331,707,000 after purchasing an additional 39,864 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Equity LifeStyle Properties in the third quarter valued at about $2,429,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Equity LifeStyle Properties in the third quarter valued at about $1,563,000. Institutional investors own 97.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group upgraded Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Compass Point upped their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Truist Financial upped their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Equity LifeStyle Properties has a consensus rating of "Moderate Buy" and an average target price of $72.50.

Equity LifeStyle Properties Stock Performance

ELS stock traded down $0.82 on Friday, reaching $70.89. The company's stock had a trading volume of 1,518,301 shares, compared to its average volume of 1,333,106. The firm has a fifty day moving average of $70.81 and a two-hundred day moving average of $67.88. 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 capitalization of $13.54 billion, a P/E ratio of 36.54, a price-to-earnings-growth ratio of 3.76 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly 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 company had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same period in the prior year, the firm earned $0.71 EPS. Equity LifeStyle Properties's quarterly revenue was down .4% on a year-over-year basis. As a group, analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio is currently 98.45%.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the sale, the chief executive officer now directly owns 260,936 shares in the company, valued at $19,705,886.72. This trade represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

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.