Oppenheimer Asset Management Inc. Invests $599,000 in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Oppenheimer Asset Management Inc. purchased a new stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 8,393 shares of the real estate investment trust’s stock, valued at approximately $599,000.

A number of other large investors have also added to or reduced their stakes in ELS. V Square Quantitative Management LLC purchased a new position in Equity LifeStyle Properties in the second quarter valued at about $30,000. UMB Bank n.a. raised its holdings in shares of Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 417 shares during the period. Blue Trust Inc. lifted its stake in 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 valued at $40,000 after purchasing an additional 391 shares during the last quarter. GAMMA Investing LLC lifted its stake in 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 valued at $53,000 after purchasing an additional 217 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Equity LifeStyle Properties during the second quarter valued at $54,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction 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 owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This represents a 17.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction 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 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 disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $70.85 on Wednesday. The company has a 50 day moving average of $70.66 and a 200 day moving average of $67.99. 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 stock has a market cap of $13.54 billion, a P/E ratio of 36.52, a P/E/G ratio of 3.76 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly 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). 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 for the quarter, compared to analysts’ expectations of $315.78 million. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Compass Point boosted their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Evercore ISI boosted their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. 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 company from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Truist Financial upped their price target on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties presently has an average 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.