Equity LifeStyle Properties, Inc. (NYSE:ELS) CFO Paul Seavey Sells 31,988 Shares

Equity LifeStyle Properties, Inc. (NYSE:ELS) CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties 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 completion of the transaction, the chief financial officer now owns 148,463 shares in the company, valued at approximately $11,109,486.29. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Equity LifeStyle Properties Stock Up 0.1 %

Shares of ELS opened at $73.54 on Friday. The company has a market capitalization of $13.71 billion, a PE ratio of 40.19, a PEG ratio of 4.32 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average price is $70.84 and its two-hundred day moving average price is $66.02. 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 announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The business had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ELS. PGGM Investments lifted its stake in shares of Equity LifeStyle Properties by 4,586.1% in the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock valued at $120,067,000 after purchasing an additional 1,804,156 shares during the period. Principal Financial Group Inc. raised its stake in Equity LifeStyle Properties by 55.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock worth $97,357,000 after buying an additional 536,864 shares during the period. ProShare Advisors LLC raised its stake in Equity LifeStyle Properties by 4,590.4% during the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after buying an additional 450,042 shares during the period. Daiwa Securities Group Inc. raised its stake in 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 buying an additional 421,062 shares during the period. Finally, National Bank of Canada FI raised its stake in Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock worth $22,321,000 after buying an additional 354,718 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Truist Financial boosted their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI boosted their price objective on Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.50 to $82.00 in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.67.

Equity LifeStyle Properties Company Profile

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.