Raymond James Financial Services Advisors Inc. Has $310,000 Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Raymond James Financial Services Advisors Inc. raised its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 4.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,632 shares of the real estate investment trust’s stock after purchasing an additional 179 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Equity LifeStyle Properties were worth $310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELS. Vanguard Group Inc. boosted its position in shares of Equity LifeStyle Properties by 0.8% in the first quarter. Vanguard Group Inc. now owns 24,685,594 shares of the real estate investment trust’s stock valued at $1,887,954,000 after acquiring an additional 184,219 shares during the period. BlackRock Inc. boosted its position in shares of Equity LifeStyle Properties by 1.7% in the first quarter. BlackRock Inc. now owns 15,004,695 shares of the real estate investment trust’s stock valued at $1,007,265,000 after acquiring an additional 251,778 shares during the period. State Street Corp boosted its position in shares of Equity LifeStyle Properties by 13.0% in the first quarter. State Street Corp now owns 8,817,442 shares of the real estate investment trust’s stock valued at $677,864,000 after acquiring an additional 1,016,542 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Equity LifeStyle Properties by 10.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,572,482 shares of the real estate investment trust’s stock valued at $575,474,000 after acquiring an additional 837,152 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Equity LifeStyle Properties by 0.7% in the first quarter. Victory Capital Management Inc. now owns 5,452,661 shares of the real estate investment trust’s stock valued at $366,037,000 after acquiring an additional 35,711 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Equity LifeStyle Properties Price Performance

Shares of ELS opened at $67.87 on Friday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33. Equity LifeStyle Properties, Inc. has a 1 year low of $60.42 and a 1 year high of $74.40. The stock has a market cap of $12.65 billion, a P/E ratio of 42.96, a price-to-earnings-growth ratio of 6.35 and a beta of 0.70. The stock’s 50-day moving average price is $65.58 and its two-hundred day moving average price is $66.77.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Tuesday, October 17th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.31). Equity LifeStyle Properties had a return on equity of 19.58% and a net margin of 20.10%. The company had revenue of $388.80 million for the quarter, compared to the consensus estimate of $337.88 million. During the same quarter last year, the business posted $0.70 EPS. Equity LifeStyle Properties’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts predict that Equity LifeStyle Properties, Inc. will post 2.85 earnings per share for the current year.

Equity LifeStyle Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.447 per share. This represents a $1.79 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Thursday, December 28th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 113.29%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ELS shares. Bank of America cut Equity LifeStyle Properties from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $70.00 to $64.00 in a research report on Monday, October 23rd. Wells Fargo & Company lowered Equity LifeStyle Properties from an “overweight” rating to an “equal weight” rating and set a $70.50 target price for the company. in a research note on Tuesday, September 5th. Royal Bank of Canada lowered their target price on Equity LifeStyle Properties from $70.00 to $69.00 in a research note on Wednesday, July 19th. Robert W. Baird lowered their target price on Equity LifeStyle Properties from $79.00 to $76.00 in a research note on Wednesday, July 19th. Finally, Compass Point initiated coverage on Equity LifeStyle Properties in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $65.00 target price for the company. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Equity LifeStyle Properties has an average rating of “Hold” and a consensus price target of $71.17.

Equity LifeStyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of October 16, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,707 sites.