Canada Pension Plan Investment Board Increases Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Canada Pension Plan Investment Board lifted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,448,775 shares of the real estate investment trust’s stock after buying an additional 27,600 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.78% of Equity LifeStyle Properties worth $93,301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. bought a new position in shares of Equity LifeStyle Properties in the first quarter worth approximately $25,000. Rise Advisors LLC bought a new position in shares of Equity LifeStyle Properties in the first quarter worth approximately $27,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Equity LifeStyle Properties in the fourth quarter worth approximately $35,000. Headlands Technologies LLC increased its position in shares of Equity LifeStyle Properties by 143.8% in the fourth quarter. Headlands Technologies LLC now owns 624 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 368 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Equity LifeStyle Properties by 40.5% in the fourth quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 182 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Trading Up 1.4 %

ELS stock traded up $0.91 on Friday, reaching $67.00. The company’s stock had a trading volume of 906,155 shares, compared to its average volume of 1,192,227. The business has a fifty day simple moving average of $64.21 and a two-hundred day simple moving average of $64.84. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $74.04. The firm has a market cap of $12.50 billion, a PE ratio of 36.62, a PEG ratio of 3.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.23). The firm had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. As a group, research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.9 EPS for the current year.

Equity LifeStyle Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a dividend of $0.477 per share. The ex-dividend date was Friday, June 28th. This represents a $1.91 annualized dividend and a dividend yield of 2.85%. Equity LifeStyle Properties’s payout ratio is presently 104.37%.

Analysts Set New Price Targets

ELS has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Truist Financial reduced their price target on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI increased their price target on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.39.

About Equity LifeStyle Properties

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.