Wilmington Savings Fund Society FSB Takes Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Wilmington Savings Fund Society FSB bought a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,009 shares of the real estate investment trust’s stock, valued at approximately $72,000.

A number of other institutional investors have also recently added to or reduced their stakes in ELS. Daiwa Securities Group Inc. lifted its holdings in shares of Equity LifeStyle Properties by 370.6% during the third quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust’s stock worth $166,182,000 after purchasing an additional 1,834,491 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Equity LifeStyle Properties by 592.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,963 shares of the real estate investment trust’s stock worth $116,068,000 after purchasing an additional 1,391,846 shares during the last quarter. Principal Financial Group Inc. raised its position in Equity LifeStyle Properties by 56.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust’s stock worth $159,232,000 after purchasing an additional 805,681 shares during the last quarter. Caprock Group LLC acquired a new position in Equity LifeStyle Properties during the 3rd quarter worth about $54,866,000. Finally, Quantinno Capital Management LP grew its position in shares of Equity LifeStyle Properties by 14,049.2% in the 3rd quarter. Quantinno Capital Management LP now owns 713,971 shares of the real estate investment trust’s stock valued at $50,935,000 after buying an additional 708,925 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $66.61 on Friday. The firm has a market capitalization of $12.73 billion, a P/E ratio of 34.34, a P/E/G ratio of 3.63 and a beta of 0.77. The firm’s 50-day moving average price is $69.86 and its 200-day moving average price is $68.99. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results 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). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The firm had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. During the same quarter in the previous year, the company posted $0.71 EPS. The firm’s revenue was down .4% on a year-over-year basis. Equities research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Truist Financial upped their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective on the stock. Robert W. Baird lifted their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Compass Point boosted their target price on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.50.

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.