OVERSEA CHINESE BANKING Corp Ltd Takes Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 34,043 shares of the real estate investment trust's stock, valued at approximately $2,429,000.

Other large investors also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in shares of Equity LifeStyle Properties in the 3rd quarter valued at about $1,563,000. Versor Investments LP bought a new position in Equity LifeStyle Properties in the third quarter worth about $938,000. Catalytic Wealth RIA LLC boosted its stake in Equity LifeStyle Properties by 66.2% in the third quarter. Catalytic Wealth RIA LLC now owns 5,541 shares of the real estate investment trust's stock valued at $395,000 after acquiring an additional 2,208 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of Equity LifeStyle Properties by 8.9% during the third quarter. Crossmark Global Holdings Inc. now owns 13,775 shares of the real estate investment trust's stock valued at $983,000 after purchasing an additional 1,121 shares during the last quarter. Finally, Carmel Capital Partners LLC grew its holdings in shares of Equity LifeStyle Properties by 5.2% during the third quarter. Carmel Capital Partners LLC now owns 6,303 shares of the real estate investment trust's stock valued at $450,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

Equity LifeStyle Properties Price Performance

ELS traded up $0.21 during trading on Wednesday, reaching $72.45. The stock had a trading volume of 1,204,407 shares, compared to its average volume of 1,212,230. The stock has a 50 day moving average of $70.89 and a two-hundred day moving average of $67.65. 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 firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 37.77, a price-to-earnings-growth ratio of 3.84 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-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 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 firm had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same quarter last year, the company earned $0.71 EPS. The company's quarterly revenue was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.477 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.63%. Equity LifeStyle Properties's payout ratio is currently 98.45%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ELS shares. UBS Group upgraded Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Compass Point boosted their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Evercore ISI increased their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Finally, Robert W. Baird raised their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Six 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $72.50.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, 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 value of $2,393,662.04. Following the transaction, the chief financial officer now owns 148,463 shares of the company's stock, valued at approximately $11,109,486.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the business's stock in a transaction dated 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 sale, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $2,393,662.04. Following the completion of the transaction, the chief financial officer now owns 148,463 shares of the company's stock, valued at approximately $11,109,486.29. 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 valued at $6,348,011 over the last ninety days. Insiders own 1.40% of the company's stock.

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.