DNB Asset Management AS Purchases 3,419 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

DNB Asset Management AS grew its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 13.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,155 shares of the real estate investment trust’s stock after purchasing an additional 3,419 shares during the period. DNB Asset Management AS’s holdings in Equity LifeStyle Properties were worth $1,834,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in Equity LifeStyle Properties by 0.3% during the fourth quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock worth $4,224,000 after buying an additional 155 shares in the last quarter. Donoghue Forlines LLC lifted its stake in Equity LifeStyle Properties by 2.3% in the fourth quarter. Donoghue Forlines LLC now owns 7,195 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 160 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in Equity LifeStyle Properties by 4.7% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock worth $277,000 after acquiring an additional 177 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Equity LifeStyle Properties by 40.5% in the 4th quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 182 shares during the period. Finally, Naviter Wealth LLC lifted its holdings in Equity LifeStyle Properties by 1.6% in the first quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock valued at $805,000 after acquiring an additional 192 shares during the period. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Down 0.4 %

Shares of ELS opened at $70.76 on Wednesday. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 4.06 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $74.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The business’s fifty day moving average price is $65.18 and its two-hundred day moving average price is $64.80.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. On average, analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.4775 per share. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a yield of 2.70%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ELS shares. Barclays dropped their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Truist Financial upped their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, Evercore ISI raised 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 report on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $68.94.

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.