Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Bought by Archer Investment Corp

Archer Investment Corp lifted its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 42.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,680 shares of the real estate investment trust’s stock after acquiring an additional 500 shares during the period. Archer Investment Corp’s holdings in Equity LifeStyle Properties were worth $120,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc increased its position in shares of Equity LifeStyle Properties by 5.5% in the 3rd quarter. CIBC Asset Management Inc now owns 6,591 shares of the real estate investment trust’s stock valued at $470,000 after acquiring an additional 345 shares during the period. Metis Global Partners LLC increased its holdings in shares of Equity LifeStyle Properties by 26.6% in the third quarter. Metis Global Partners LLC now owns 21,447 shares of the real estate investment trust’s stock valued at $1,530,000 after purchasing an additional 4,505 shares during the period. KBC Group NV boosted its position in Equity LifeStyle Properties by 518.6% in the third quarter. KBC Group NV now owns 165,518 shares of the real estate investment trust’s stock valued at $11,808,000 after buying an additional 138,759 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Equity LifeStyle Properties in the 3rd quarter worth approximately $599,000. Finally, MQS Management LLC acquired a new stake in shares of Equity LifeStyle Properties in the third quarter worth $346,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Insider Buying and Selling

In related news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This trade represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $70.89 on Friday. The firm has a fifty day moving average of $70.81 and a 200 day moving average of $67.78. 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 $13.54 billion, a PE ratio of 36.54, a PEG ratio of 3.85 and a beta of 0.79. 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 results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). The firm had revenue of $387.30 million for 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 firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 earnings per share. As a group, research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.477 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.69%. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

Wall Street Analyst Weigh In

ELS has been the topic of several analyst reports. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a “hold” rating and a $72.00 price target on the stock. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Evercore ISI boosted their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Robert W. Baird raised their price objective 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Moderate Buy” and an average price target of $72.50.

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.