Federated Hermes Inc. Sells 672 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Federated Hermes Inc. cut its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,948 shares of the real estate investment trust’s stock after selling 672 shares during the period. Federated Hermes Inc.’s holdings in Equity LifeStyle Properties were worth $4,100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ELS. PGGM Investments lifted its stake in shares of Equity LifeStyle Properties by 4,586.1% in the second quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock valued at $120,067,000 after buying an additional 1,804,156 shares during the period. Principal Financial Group Inc. raised its holdings in Equity LifeStyle Properties by 55.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock valued at $97,357,000 after acquiring an additional 536,864 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Equity LifeStyle Properties by 4,590.4% in the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after acquiring an additional 450,042 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Equity LifeStyle Properties by 569.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock worth $32,235,000 after purchasing an additional 421,062 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Equity LifeStyle Properties by 46,368.4% during the first quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after purchasing an additional 354,718 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI lifted their target price on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $69.25.

Equity LifeStyle Properties Price Performance

Shares of ELS stock opened at $73.49 on Thursday. The stock’s fifty day moving average is $70.70 and its 200-day moving average is $65.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The stock has a market capitalization of $13.71 billion, a PE ratio of 40.16, a PEG ratio of 4.32 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.23). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The company had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. During the same quarter in the previous year, the business posted $0.66 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts expect that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.4775 per share. This represents a $1.91 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were 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. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at $15,575,398.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The disclosure for this sale can be found here. 1.40% of the stock is 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.