Toronto Dominion Bank Increases Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Toronto Dominion Bank increased its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 31.4% in the third quarter, Holdings Channel.com reports. The firm owned 22,296 shares of the real estate investment trust’s stock after purchasing an additional 5,322 shares during the quarter. Toronto Dominion Bank’s holdings in Equity LifeStyle Properties were worth $1,591,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Townsquare Capital LLC lifted its stake in Equity LifeStyle Properties by 23.7% in the third quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust’s stock worth $916,000 after purchasing an additional 2,458 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Equity LifeStyle Properties by 0.9% in the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock worth $331,707,000 after buying an additional 39,864 shares during the period. Citigroup Inc. lifted its stake in shares of Equity LifeStyle Properties by 16.7% during the 3rd quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust’s stock worth $15,210,000 after acquiring an additional 30,489 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Equity LifeStyle Properties by 60.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,950 shares of the real estate investment trust’s stock worth $2,211,000 after acquiring an additional 12,826 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Equity LifeStyle Properties by 44.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 65,035 shares of the real estate investment trust’s stock valued at $4,640,000 after acquiring an additional 19,974 shares during the period. 97.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ELS shares. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price on the stock. Truist Financial raised their price target on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Evercore ISI boosted their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Compass Point lifted 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. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.50.

Equity LifeStyle Properties Trading Down 0.7 %

NYSE:ELS opened at $67.92 on Monday. The firm has a 50-day simple moving average of $69.84 and a 200-day simple moving average of $68.91. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $76.60. The firm has a market cap of $12.98 billion, a P/E ratio of 35.01, a P/E/G ratio of 3.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings data 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 net margin of 23.97% and a return on equity of 24.10%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. Equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 98.45%.

Insider Activity at Equity LifeStyle Properties

In related 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 transaction 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 trade was a 17.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by corporate insiders.

Equity LifeStyle Properties 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.