APG Asset Management N.V. Acquires 15,800 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

APG Asset Management N.V. raised its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 300.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,065 shares of the real estate investment trust’s stock after acquiring an additional 15,800 shares during the quarter. APG Asset Management N.V.’s holdings in Equity LifeStyle Properties were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Treasurer of the State of North Carolina raised its stake in shares of Equity LifeStyle Properties by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 80,916 shares of the real estate investment trust’s stock valued at $5,708,000 after purchasing an additional 770 shares during the period. Bank of Nova Scotia grew its holdings in Equity LifeStyle Properties by 20.9% during the 4th quarter. Bank of Nova Scotia now owns 14,152 shares of the real estate investment trust’s stock valued at $998,000 after buying an additional 2,444 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Equity LifeStyle Properties by 1.3% during the fourth quarter. California State Teachers Retirement System now owns 256,732 shares of the real estate investment trust’s stock valued at $18,110,000 after buying an additional 3,316 shares during the period. Royal London Asset Management Ltd. lifted its holdings in shares of Equity LifeStyle Properties by 3.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 78,347 shares of the real estate investment trust’s stock worth $5,527,000 after buying an additional 2,621 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Equity LifeStyle Properties by 415.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 50,862 shares of the real estate investment trust’s stock valued at $3,588,000 after acquiring an additional 40,996 shares during the period. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Insiders Place Their Bets

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the 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 completion of the transaction, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Patrick Waite sold 20,820 shares of the business’s stock in a transaction on Friday, August 16th. The shares were 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 disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock worth $6,348,011 over the last three months. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Stock Up 0.8 %

Shares of NYSE:ELS opened at $71.34 on Tuesday. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The stock’s 50-day moving average is $71.42 and its 200 day moving average is $66.28. The company has a market cap of $13.30 billion, a PE ratio of 38.98, a P/E/G ratio of 4.22 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The business had revenue of $380.00 million for the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. Equity LifeStyle Properties’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. Sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.4775 dividend. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

Analysts Set New Price Targets

ELS has been the topic of several recent analyst reports. Truist Financial increased their target price on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Evercore ISI raised their price target on Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Equity LifeStyle Properties has an average rating of “Hold” and a consensus price target of $70.67.

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.