Raleigh Capital Management Inc. Makes New Investment in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Raleigh Capital Management Inc. acquired a new position in Equity LifeStyle Properties, Inc. (NYSE:ELS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 416 shares of the real estate investment trust’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Equity LifeStyle Properties by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 24,685,594 shares of the real estate investment trust’s stock worth $1,887,954,000 after purchasing an additional 184,219 shares during the period. BlackRock Inc. boosted its stake in shares of Equity LifeStyle Properties by 1.7% during the 1st quarter. BlackRock Inc. now owns 15,004,695 shares of the real estate investment trust’s stock worth $1,007,265,000 after purchasing an additional 251,778 shares during the period. State Street Corp boosted its stake in shares of Equity LifeStyle Properties by 13.0% during the 1st quarter. State Street Corp now owns 8,817,442 shares of the real estate investment trust’s stock worth $677,864,000 after purchasing an additional 1,016,542 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Equity LifeStyle Properties by 10.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,572,482 shares of the real estate investment trust’s stock worth $575,474,000 after purchasing an additional 837,152 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Equity LifeStyle Properties by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 5,452,661 shares of the real estate investment trust’s stock worth $366,037,000 after purchasing an additional 35,711 shares during the period. 98.55% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Up 2.2 %

Shares of NYSE ELS opened at $67.05 on Friday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $12.49 billion, a PE ratio of 43.82, a price-to-earnings-growth ratio of 4.76 and a beta of 0.69. The stock’s fifty day simple moving average is $67.94 and its two-hundred day simple moving average is $66.91. Equity LifeStyle Properties, Inc. has a 12-month low of $56.91 and a 12-month high of $74.40.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). Equity LifeStyle Properties had a net margin of 19.53% and a return on equity of 18.86%. The firm had revenue of $370.01 million during the quarter, compared to the consensus estimate of $325.08 million. During the same quarter in the prior year, the business posted $0.64 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, analysts expect that Equity LifeStyle Properties, Inc. will post 2.85 EPS for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a $0.447 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.79 dividend on an annualized basis and a dividend yield of 2.67%. Equity LifeStyle Properties’s payout ratio is 116.99%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ELS shares. StockNews.com downgraded Equity LifeStyle Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Royal Bank of Canada lowered their price objective on shares of Equity LifeStyle Properties from $70.00 to $69.00 in a research report on Wednesday, July 19th. Barclays reduced their target price on shares of Equity LifeStyle Properties from $79.00 to $78.00 in a research report on Thursday, July 6th. Wells Fargo & Company lowered Equity LifeStyle Properties from an “overweight” rating to an “equal weight” rating and set a $70.50 price target for the company. in a report on Tuesday, September 5th. Finally, Robert W. Baird dropped their price objective on Equity LifeStyle Properties from $79.00 to $76.00 in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Equity LifeStyle Properties presently has a consensus rating of “Hold” and an average target price of $73.50.

Equity LifeStyle Properties Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of July 17, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,706 sites.