The Manufacturers Life Insurance Company Grows Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

The Manufacturers Life Insurance Company increased its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 13.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,021 shares of the real estate investment trust's stock after purchasing an additional 19,282 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.09% of Equity LifeStyle Properties worth $11,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELS. Moran Wealth Management LLC boosted its position in shares of Equity LifeStyle Properties by 0.8% during the third quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust's stock worth $1,264,000 after acquiring an additional 143 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of Equity LifeStyle Properties by 31.3% during the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 146 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Equity LifeStyle Properties by 0.6% in 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 buying an additional 152 shares in the last quarter. Toronto Dominion Bank boosted its stake in Equity LifeStyle Properties by 0.9% during the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust's stock valued at $1,106,000 after buying an additional 154 shares during the last quarter. Finally, LRI Investments LLC grew its holdings in Equity LifeStyle Properties by 8.7% during the 2nd quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust's stock valued at $139,000 after buying an additional 171 shares in the last quarter. Institutional investors own 97.21% of the company's stock.

Equity LifeStyle Properties Stock Performance

NYSE:ELS traded down $0.78 during midday trading on Tuesday, hitting $69.57. The company's stock had a trading volume of 187,986 shares, compared to its average volume of 1,202,820. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two 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 firm has a market cap of $13.29 billion, a P/E ratio of 36.26, a P/E/G ratio of 3.79 and a beta of 0.77. The firm's 50 day moving average is $70.11 and its 200-day moving average is $68.51.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.28). The business had revenue of $387.30 million for the quarter, compared to analysts' expectations of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company's revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. Equities 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 firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties's payout ratio is 98.45%.

Insider Buying and Selling

In other news, CFO Paul Seavey sold 31,988 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following the sale, the chief financial officer now directly owns 148,463 shares of the company's stock, valued at approximately $11,109,486.29. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the company's stock in a transaction on Monday, September 16th. The stock was 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 $19,705,886.72. This trade represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ELS. Compass Point upped their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upgraded Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Robert W. Baird increased their price target on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. UBS Group raised shares of Equity LifeStyle Properties to a "strong-buy" rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group started coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They set a "hold" rating and a $72.00 price objective for the company. Six 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. According to data from MarketBeat, Equity LifeStyle Properties currently has an average rating of "Moderate Buy" and a consensus price target of $72.50.

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.