National Bank of Canada FI Boosts Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

National Bank of Canada FI lifted its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 79.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 237,766 shares of the real estate investment trust's stock after acquiring an additional 105,435 shares during the quarter. National Bank of Canada FI owned approximately 0.12% of Equity LifeStyle Properties worth $16,962,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ELS. V Square Quantitative Management LLC bought a new position in shares of Equity LifeStyle Properties in the second quarter worth $30,000. UMB Bank n.a. boosted its stake in Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 417 shares during the period. Blue Trust Inc. boosted its stake in Equity LifeStyle Properties by 167.1% in the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 391 shares during the period. Acadian Asset Management LLC purchased a new position in Equity LifeStyle Properties during the 2nd quarter valued at about $54,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Equity LifeStyle Properties during the third quarter valued at about $75,000. Hedge funds and other institutional investors own 97.21% of the company's stock.

Insider Activity

In other news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction dated 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 approximately $19,705,886.72. This represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the firm'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 completion of the sale, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. The trade was a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ELS shares. Truist Financial raised their price objective on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a "hold" rating in a research report on Tuesday, November 12th. UBS Group raised shares of Equity LifeStyle Properties to a "strong-buy" rating in a report on Thursday, October 10th. Evercore ISI boosted 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 report on Monday, October 21st. Compass Point upped their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird lifted their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Six 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $72.50.

Equity LifeStyle Properties Trading Down 1.6 %

Shares of ELS stock traded down $1.11 on Tuesday, hitting $69.00. 951,398 shares of the company's stock traded hands, compared to its average volume of 1,199,983. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a market capitalization of $13.18 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of 3.70 and a beta of 0.77. The company's fifty day simple moving average is $69.94 and its 200 day simple moving average is $68.72. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $76.60.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. During the same period last year, the business posted $0.71 earnings per share. The firm's quarterly revenue was down .4% compared to the same quarter last year. Equities analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS 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 given a $0.477 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.91 annualized dividend and a yield of 2.77%. Equity LifeStyle Properties's payout ratio is currently 98.45%.

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.