Swedbank AB Has $26.06 Million Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Swedbank AB lifted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 10.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 365,305 shares of the real estate investment trust’s stock after buying an additional 35,305 shares during the quarter. Swedbank AB owned about 0.19% of Equity LifeStyle Properties worth $26,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in Equity LifeStyle Properties in the second quarter worth $30,000. UMB Bank n.a. increased its position in Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 417 shares in the last quarter. Blue Trust Inc. raised its stake in Equity LifeStyle Properties by 167.1% during the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 391 shares during the period. GAMMA Investing LLC raised its stake in Equity LifeStyle Properties by 36.0% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 217 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Equity LifeStyle Properties in the second quarter worth approximately $54,000. Institutional investors own 97.21% of the company’s stock.

Insider Buying and Selling

In related news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This trade represents a 11.23 % 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 0.2 %

Shares of ELS stock opened at $71.10 on Tuesday. 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 company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 36.65, a PEG ratio of 3.77 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 company has a 50-day simple moving average of $70.38 and a two-hundred day simple moving average of $68.15.

Equity LifeStyle Properties (NYSE:ELS) last released its 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). The business 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%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. Research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is 98.45%.

Wall Street Analysts Forecast Growth

ELS has been the subject of several recent research reports. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Truist Financial upped their price objective 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. Robert W. Baird raised their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company 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 stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.50.

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.