Principal Financial Group Inc. Has $159.23 Million Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Principal Financial Group Inc. increased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 56.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,232,008 shares of the real estate investment trust's stock after purchasing an additional 805,681 shares during the quarter. Principal Financial Group Inc. owned 1.17% of Equity LifeStyle Properties worth $159,232,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELS. UMB Bank n.a. grew its position in Equity LifeStyle Properties by 356.4% in the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust's stock worth $38,000 after buying an additional 417 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of 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 acquiring an additional 391 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Equity LifeStyle Properties by 31.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 146 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Equity LifeStyle Properties during the second quarter worth $54,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity LifeStyle Properties during the third quarter valued at $72,000. 97.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a "hold" rating and a $72.00 price target on the stock. Compass Point lifted their target price 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. 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 report on Monday, October 21st. UBS Group raised shares of Equity LifeStyle Properties to a "strong-buy" rating in a research note on Thursday, October 10th. Finally, Truist Financial lifted their price objective on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given 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 an average price target of $72.50.

Equity LifeStyle Properties Stock Up 0.6 %

Shares of NYSE:ELS traded up $0.43 during trading on Friday, reaching $66.61. 4,409,066 shares of the company traded hands, compared to its average volume of 1,216,807. The firm has a fifty day simple moving average of $69.88 and a 200 day simple moving average of $68.96. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The firm has a market cap of $12.73 billion, a P/E ratio of 34.34, a price-to-earnings-growth ratio of 3.63 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released 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 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 posted $0.71 EPS. Equity LifeStyle Properties's revenue for the quarter was down .4% on a year-over-year basis. Analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share 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 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 yield of 2.86%. Equity LifeStyle Properties's dividend 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.