Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Acquired by PGGM Investments

PGGM Investments boosted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 4,586.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,843,496 shares of the real estate investment trust’s stock after buying an additional 1,804,156 shares during the quarter. Equity LifeStyle Properties accounts for approximately 1.7% of PGGM Investments’ holdings, making the stock its 16th biggest holding. PGGM Investments owned about 0.99% of Equity LifeStyle Properties worth $120,067,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of 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 grew its holdings in Equity LifeStyle Properties by 2.3% during the 4th quarter. Donoghue Forlines LLC now owns 7,195 shares of the real estate investment trust’s stock worth $508,000 after acquiring an additional 160 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Equity LifeStyle Properties by 4.7% in 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 purchasing an additional 177 shares during the last quarter. Lindbrook Capital LLC raised 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 valued at $45,000 after purchasing an additional 182 shares in the last quarter. Finally, Naviter Wealth LLC lifted its position in shares of Equity LifeStyle Properties by 1.6% during the first quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock worth $805,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Performance

NYSE ELS traded up $0.11 during trading hours on Wednesday, hitting $71.48. The company had a trading volume of 681,199 shares, compared to its average volume of 1,225,370. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The firm has a market cap of $13.33 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 4.06 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $74.04. The business has a fifty day simple moving average of $66.19 and a 200-day simple moving average of $64.99.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data 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). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The firm had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. During the same period last year, the business earned $0.66 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. Equities analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.4775 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.67%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial boosted their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Evercore ISI raised their price objective on Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 23rd. Finally, Barclays decreased their price objective on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $68.94.

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.