Caprock Group LLC Buys New Shares in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Caprock Group LLC purchased a new stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 763,960 shares of the real estate investment trust’s stock, valued at approximately $54,866,000. Equity LifeStyle Properties makes up 2.0% of Caprock Group LLC’s investment portfolio, making the stock its 7th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ELS. V Square Quantitative Management LLC lifted its position in 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 buying an additional 146 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in 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 purchasing an additional 152 shares during the last quarter. Toronto Dominion Bank boosted its position 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 period. LRI Investments LLC increased its holdings in shares of Equity LifeStyle Properties by 8.7% in the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 171 shares during the period. Finally, Farrow Financial Inc. lifted its stake in shares of Equity LifeStyle Properties by 1.0% in the 2nd quarter. Farrow Financial Inc. now owns 22,089 shares of the real estate investment trust’s stock valued at $1,439,000 after acquiring an additional 211 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Price Performance

ELS stock opened at $70.99 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 3.76 and a beta of 0.79. The firm has a 50 day moving average price of $70.81 and a 200-day moving average price of $67.88. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The company had revenue of $387.30 million during 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 was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. Equities research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS 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. Shareholders of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 98.45%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ELS. UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Evercore ISI increased their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 price target on the stock. Compass Point increased their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Equity LifeStyle Properties has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Insider Transactions at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the sale, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. The trade was a 11.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the firm’s 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 approximately $11,109,486.29. This trade represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Company Profile

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.