Daiwa Securities Group Inc. Raises Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Daiwa Securities Group Inc. grew its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 370.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,329,431 shares of the real estate investment trust’s stock after buying an additional 1,834,491 shares during the quarter. Daiwa Securities Group Inc. owned 1.22% of Equity LifeStyle Properties worth $166,182,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Moran Wealth Management LLC increased its holdings in Equity LifeStyle Properties by 0.8% in the 3rd quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust’s stock worth $1,264,000 after acquiring an additional 143 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of Equity LifeStyle Properties by 31.3% during the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 146 shares in the last quarter. Johnson Investment Counsel Inc. raised its position in shares of Equity LifeStyle Properties by 0.6% during the 2nd 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 lifted its stake in Equity LifeStyle Properties by 0.9% in the 2nd 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 in the last quarter. Finally, LRI Investments LLC lifted its stake in Equity LifeStyle Properties by 8.7% in the 2nd quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 171 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Equity LifeStyle Properties

In related news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the transaction, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the sale, 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. 1.40% of the stock is owned by insiders.

Equity LifeStyle Properties Trading Up 0.1 %

Shares of ELS opened at $70.94 on Friday. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. The firm has a market capitalization of $13.55 billion, a P/E ratio of 36.57, a P/E/G ratio of 3.76 and a beta of 0.79. The firm has a 50-day moving average price of $70.38 and a 200 day moving average price of $68.08. 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 (NYSE:ELS) last posted 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). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The business had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Equity LifeStyle Properties’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current 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 given a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.69%. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

Wall Street Analyst Weigh In

Several research firms have commented on ELS. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI boosted their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Compass Point raised their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Truist Financial upped their target price on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird raised their price target 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. Six equities research analysts have rated the stock with a hold rating, four have given 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 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.