Mirae Asset Global Investments Co. Ltd. raised its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 119.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,204 shares of the real estate investment trust's stock after purchasing an additional 12,651 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Equity LifeStyle Properties were worth $1,642,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC raised its position in shares of Equity LifeStyle Properties by 31.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 146 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Equity LifeStyle Properties by 0.6% during the second quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust's stock worth $1,745,000 after purchasing an additional 152 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Equity LifeStyle Properties by 0.9% during the 2nd quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust's stock worth $1,106,000 after purchasing an additional 154 shares during the period. LRI Investments LLC raised its holdings in Equity LifeStyle Properties by 8.7% in the 2nd quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust's stock valued at $139,000 after acquiring an additional 171 shares during the last quarter. Finally, Farrow Financial Inc. increased its stake in Equity LifeStyle Properties by 1.0% during the 2nd quarter. Farrow Financial Inc. now owns 22,089 shares of the real estate investment trust's stock worth $1,439,000 after buying an additional 211 shares during the period. Institutional investors and hedge funds own 97.21% of the company's stock.
Insiders Place Their Bets
In other news, COO Patrick Waite sold 20,820 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the transaction, the chief operating officer now owns 221,777 shares of the company's stock, valued at $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Marguerite M. Nader sold 33,000 shares of the company'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 value of $2,492,160.00. Following the transaction, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the transaction, the chief operating officer now directly owns 221,777 shares of the company's stock, valued at $15,575,398.71. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,808 shares of company stock worth $6,348,011 over the last ninety days. 1.40% of the stock is currently owned by company insiders.
Equity LifeStyle Properties Stock Down 1.2 %
Shares of NYSE ELS traded down $0.83 during trading on Friday, reaching $69.29. The company had a trading volume of 1,087,722 shares, compared to its average volume of 1,206,036. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. The stock has a market cap of $12.92 billion, a PE ratio of 36.19, a P/E/G ratio of 3.82 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. The business's 50-day moving average is $71.05 and its 200 day moving average is $67.07.
Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 EPS 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 for the quarter, compared to analyst estimates of $315.78 million. During the same period in the previous year, the business earned $0.71 EPS. Equity LifeStyle Properties's revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities analysts forecast that Equity LifeStyle Properties, Inc. will post 2.9 earnings per share for the current fiscal year.
Equity LifeStyle Properties Cuts Dividend
The company also recently declared 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 of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.75%. Equity LifeStyle Properties's dividend payout ratio is currently 98.45%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Robert W. Baird raised their price objective on 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 lifted their price target for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Compass Point boosted their price objective 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. UBS Group upgraded shares of Equity LifeStyle Properties to a "strong-buy" rating in a research note on Thursday, October 10th. Finally, Evercore ISI lifted their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $72.40.
View Our Latest Stock Report on ELS
About Equity LifeStyle Properties
(
Free Report)
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.
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