Harvest Fund Management Co. Ltd Purchases New Shares in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Harvest Fund Management Co. Ltd acquired a new stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,646 shares of the real estate investment trust’s stock, valued at approximately $117,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Daiwa Securities Group Inc. increased its stake in shares of Equity LifeStyle Properties by 370.6% in the third quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust’s stock valued at $166,182,000 after buying an additional 1,834,491 shares in the last quarter. Swedbank AB increased its position in Equity LifeStyle Properties by 10.7% in the 3rd quarter. Swedbank AB now owns 365,305 shares of the real estate investment trust’s stock valued at $26,061,000 after acquiring an additional 35,305 shares in the last quarter. Cerity Partners LLC increased its position in Equity LifeStyle Properties by 43.5% in the 3rd quarter. Cerity Partners LLC now owns 81,540 shares of the real estate investment trust’s stock valued at $5,817,000 after acquiring an additional 24,727 shares in the last quarter. Citigroup Inc. raised its stake in shares of Equity LifeStyle Properties by 16.7% in the third quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust’s stock worth $15,210,000 after acquiring an additional 30,489 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Equity LifeStyle Properties by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,441,191 shares of the real estate investment trust’s stock worth $174,155,000 after purchasing an additional 87,609 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Analyst Ratings Changes

ELS has been the subject of a number of research reports. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Truist Financial boosted their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Robert W. Baird raised their price target on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective for the company. Finally, Evercore ISI upped their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Price Performance

Equity LifeStyle Properties stock opened at $72.09 on Thursday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $13.77 billion, a P/E ratio of 37.16, a PEG ratio of 3.78 and a beta of 0.79. The business has a 50-day moving average of $70.23 and a 200-day moving average of $68.27. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The firm had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. During the same period in the previous year, the business earned $0.71 EPS. The firm’s revenue was down .4% compared to the same quarter last year. On average, equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 98.45%.

Insider Buying and Selling

In related news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This represents a 17.73 % decrease in their position. The transaction 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 that occurred on 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 sale, the chief executive officer now owns 260,936 shares in the company, valued at $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 currently owned by company insiders.

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.