Bank of Montreal Can Buys 151,273 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Bank of Montreal Can grew its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 27.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 693,190 shares of the real estate investment trust’s stock after acquiring an additional 151,273 shares during the period. Bank of Montreal Can owned 0.36% of Equity LifeStyle Properties worth $49,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Equity LifeStyle Properties in the second quarter worth about $30,000. UMB Bank n.a. raised its stake in shares of Equity LifeStyle Properties by 356.4% in the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $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% in the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 391 shares during the last quarter. GAMMA Investing LLC raised its stake 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 worth $53,000 after acquiring an additional 217 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Equity LifeStyle Properties in the second quarter worth about $54,000. 97.21% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction dated 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 of the company’s stock, valued at $11,109,486.29. This represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Stock Up 1.0 %

Shares of NYSE:ELS opened at $72.09 on Thursday. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. 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 $13.77 billion, a PE ratio of 37.16, a PEG ratio of 3.78 and a beta of 0.79. The company has a 50 day moving average price of $70.23 and a two-hundred day moving average price of $68.27.

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 the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. During the same period in the previous year, the company posted $0.71 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The business 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. This represents a $1.91 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 98.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 price target for the company. Compass Point boosted their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, 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 note on Tuesday, October 22nd. 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.