Metis Global Partners LLC Grows Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Metis Global Partners LLC raised its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 26.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,447 shares of the real estate investment trust’s stock after buying an additional 4,505 shares during the period. Metis Global Partners LLC’s holdings in Equity LifeStyle Properties were worth $1,530,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Equity LifeStyle Properties by 36.0% in the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 217 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Equity LifeStyle Properties by 3.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock worth $21,952,000 after purchasing an additional 12,444 shares during the last quarter. Tidal Investments LLC grew its stake in Equity LifeStyle Properties by 35.3% in the 1st quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock valued at $5,106,000 after purchasing an additional 20,697 shares during the period. National Bank of Canada FI increased its position in shares of Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after purchasing an additional 354,718 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Equity LifeStyle Properties by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock worth $1,614,469,000 after purchasing an additional 240,853 shares during the period. Institutional investors own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Robert W. Baird lifted their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Jefferies Financial Group began coverage on 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $70.89 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 36.54, a price-to-earnings-growth ratio of 3.85 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. The stock’s 50-day simple moving average is $70.81 and its 200 day simple moving average is $67.83.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data 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). The firm had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. Equity LifeStyle Properties’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. Research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 payout ratio is currently 98.45%.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the business’s 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 of the company’s stock, valued at $19,705,886.72. The trade was a 11.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company 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.