Mutual of America Capital Management LLC Cuts Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Mutual of America Capital Management LLC cut its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 106,778 shares of the real estate investment trust’s stock after selling 4,302 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Equity LifeStyle Properties worth $6,954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. purchased a new position in Equity LifeStyle Properties in the 1st quarter worth approximately $25,000. Rise Advisors LLC purchased a new stake in Equity LifeStyle Properties during the 1st quarter valued at $27,000. V Square Quantitative Management LLC bought a new stake in shares of Equity LifeStyle Properties in the 2nd quarter worth $30,000. Blue Trust Inc. raised its stake in shares of 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 worth $40,000 after purchasing an additional 391 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Equity LifeStyle Properties by 36.0% during 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 in the last quarter. Institutional investors own 97.21% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the sale, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock worth $6,348,011 in the last three months. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Price Performance

NYSE ELS opened at $73.54 on Friday. The business’s fifty day moving average is $70.84 and its 200 day moving average is $66.02. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market capitalization of $13.71 billion, a PE ratio of 40.19, a price-to-earnings-growth 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 analysts’ consensus estimates of $0.65 by ($0.23). The company had revenue of $380.00 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. Sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company 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. The ex-dividend date is Friday, September 27th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.60%. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

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.