Metis Global Partners LLC Has $1.53 Million Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Metis Global Partners LLC boosted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 26.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,447 shares of the real estate investment trust’s stock after purchasing an additional 4,505 shares during the period. Metis Global Partners LLC’s holdings in Equity LifeStyle Properties were worth $1,530,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ELS. V Square Quantitative Management LLC acquired a new position in shares of Equity LifeStyle Properties in the second quarter valued at approximately $30,000. UMB Bank n.a. raised its stake in shares of Equity LifeStyle Properties by 356.4% during the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 417 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 391 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Equity LifeStyle Properties by 36.0% during the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 217 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Equity LifeStyle Properties in the second quarter worth $54,000. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Trading Down 1.1 %

NYSE:ELS opened at $70.89 on Friday. The firm has a fifty day simple moving average of $70.81 and a two-hundred day simple moving average of $67.83. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 3.85 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results 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%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. Analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 98.45%.

Insider Activity at Equity LifeStyle Properties

In other news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the sale, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. This represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. The trade was 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 insiders.

Analysts Set New Price Targets

ELS has been the topic of several recent research reports. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 target price on the stock. Truist Financial lifted their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Compass Point raised their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird boosted their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI increased their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently 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.