Nordea Investment Management AB Has $9.23 Million Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

September 20, 2023

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Nordea Investment Management AB grew its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS – Free Report) by 38.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,941 shares of the real estate investment trust’s stock after purchasing an additional 37,948 shares during the quarter. Nordea Investment Management AB owned approximately 0.07% of Equity LifeStyle Properties worth $9,230,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ELS. Raleigh Capital Management Inc. acquired a new stake in shares of Equity LifeStyle Properties during the first quarter valued at about $28,000. Eagle Bay Advisors LLC acquired a new stake in shares of Equity LifeStyle Properties during the second quarter valued at about $30,000. Exchange Traded Concepts LLC boosted its stake in shares of Equity LifeStyle Properties by 314.8% during the first quarter. Exchange Traded Concepts LLC now owns 506 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 384 shares in the last quarter. Ronald Blue Trust Inc. boosted its stake in shares of Equity LifeStyle Properties by 33.3% during the first quarter. Ronald Blue Trust Inc. now owns 804 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 201 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Equity LifeStyle Properties during the first quarter valued at about $59,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Price Performance

Shares of ELS opened at $66.45 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties, Inc. has a 52-week low of $56.91 and a 52-week high of $74.40. The business’s 50 day moving average price is $67.98 and its two-hundred day moving average price is $66.88. The firm has a market cap of $12.38 billion, a PE ratio of 43.43, a price-to-earnings-growth ratio of 4.82 and a beta of 0.69.

Equity LifeStyle Properties (NYSE:ELS – Get Free Report) last issued its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). Equity LifeStyle Properties had a return on equity of 18.86% and a net margin of 19.53%. The firm had revenue of $370.01 million for the quarter, compared to analyst estimates of $325.08 million. During the same period in the previous year, the company earned $0.64 earnings per share. Equity LifeStyle Properties’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.85 EPS for the current year.

Equity LifeStyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.447 per share. This represents a $1.79 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, September 28th. Equity LifeStyle Properties’s payout ratio is 116.99%.

Wall Street Analyst Weigh In

ELS has been the topic of several analyst reports. Truist Financial upped their target price on Equity LifeStyle Properties from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Robert W. Baird reduced their target price on Equity LifeStyle Properties from $79.00 to $76.00 in a report on Wednesday, July 19th. Wells Fargo & Company cut Equity LifeStyle Properties from an “overweight” rating to an “equal weight” rating and set a $70.50 target price on the stock. in a report on Tuesday, September 5th. Barclays reduced their target price on Equity LifeStyle Properties from $79.00 to $78.00 in a report on Thursday, July 6th. Finally, Royal Bank of Canada reduced their target price on Equity LifeStyle Properties from $70.00 to $69.00 in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties presently has a consensus rating of “Hold” and a consensus price target of $73.50.

Check Out Our Latest Stock Report on Equity LifeStyle Properties

About Equity LifeStyle Properties

(Free Report)

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of July 17, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,706 sites.

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