Kovitz Investment Group Partners LLC Grows Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Kovitz Investment Group Partners LLC raised its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 130.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,390 shares of the real estate investment trust's stock after purchasing an additional 34,741 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Equity LifeStyle Properties were worth $4,380,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ELS. Townsquare Capital LLC increased its stake in Equity LifeStyle Properties by 23.7% in the 3rd quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust's stock worth $916,000 after buying an additional 2,458 shares during the period. PGGM Investments increased its stake in Equity LifeStyle Properties by 4,586.1% in the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust's stock worth $120,067,000 after buying an additional 1,804,156 shares during the period. Victory Capital Management Inc. increased its stake 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. Citigroup Inc. increased its stake in Equity LifeStyle Properties by 16.7% in the 3rd quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust's stock worth $15,210,000 after buying an additional 30,489 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Equity LifeStyle Properties by 60.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,950 shares of the real estate investment trust's stock worth $2,211,000 after buying an additional 12,826 shares during the period. Hedge funds and other institutional investors own 97.21% of the company's stock.

Equity LifeStyle Properties Stock Performance

NYSE:ELS traded up $0.41 during trading hours on Monday, hitting $70.11. 1,095,806 shares of the company were exchanged, compared to its average volume of 1,200,863. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 3.70 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. 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's 50 day moving average price is $69.97 and its 200-day moving average price is $68.67.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced 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). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The business had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The business's revenue was down .4% on a year-over-year basis. As a group, research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio is currently 98.45%.

Wall Street Analysts Forecast Growth

ELS has been the topic of several recent analyst reports. Compass Point raised 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. UBS Group upgraded shares of Equity LifeStyle Properties to a "strong-buy" rating in a report on Thursday, October 10th. Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They set a "hold" rating and a $72.00 target price on the stock. Robert W. Baird increased their target price 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. Finally, Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Six 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $72.50.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the company's stock in a transaction 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 owns 148,463 shares of the company's stock, 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. Company insiders own 1.40% of the company's stock.

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.