Bar Harbor Wealth Management Increases Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Bar Harbor Wealth Management increased its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,235 shares of the real estate investment trust’s stock after buying an additional 350 shares during the period. Bar Harbor Wealth Management’s holdings in Equity LifeStyle Properties were worth $4,351,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ELS. Empowered Funds LLC purchased a new position in shares of Equity LifeStyle Properties during the 4th quarter worth approximately $380,000. Van ECK Associates Corp boosted its position in shares of Equity LifeStyle Properties by 0.9% during the fourth quarter. Van ECK Associates Corp now owns 82,239 shares of the real estate investment trust’s stock valued at $5,477,000 after purchasing an additional 759 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Equity LifeStyle Properties during the fourth quarter valued at approximately $659,000. Proficio Capital Partners LLC purchased a new stake in Equity LifeStyle Properties in the fourth quarter worth $2,374,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Equity LifeStyle Properties by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,553,330 shares of the real estate investment trust’s stock worth $170,052,000 after purchasing an additional 112,139 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

Equity LifeStyle Properties Stock Up 0.6%

NYSE:ELS opened at $62.98 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02. The firm has a market cap of $12.04 billion, a P/E ratio of 32.30, a P/E/G ratio of 3.02 and a beta of 0.73. Equity LifeStyle Properties, Inc. has a fifty-two week low of $58.86 and a fifty-two week high of $76.60. The firm has a 50-day simple moving average of $63.79 and a two-hundred day simple moving average of $66.05.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.83 EPS for the quarter, meeting analysts’ consensus estimates of $0.83. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. The firm had revenue of $327.21 million for the quarter, compared to analysts’ expectations of $391.34 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. Analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.06 annualized dividend and a dividend yield of 3.27%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 106.74%.

Insider Activity at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total transaction of $647,200.00. Following the completion of the transaction, the chief financial officer now directly owns 78,162 shares of the company’s stock, valued at $5,058,644.64. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ELS. BMO Capital Markets reduced their target price on shares of Equity LifeStyle Properties from $78.00 to $77.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial dropped their price objective on shares of Equity LifeStyle Properties from $72.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a report on Tuesday, April 8th. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Barclays initiated coverage on shares of Equity LifeStyle Properties in a research note on Thursday, May 29th. They set an “equal weight” rating and a $70.00 target price for the company. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.90.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.