Thrivent Financial for Lutherans Raises Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Thrivent Financial for Lutherans increased its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 44.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,035 shares of the real estate investment trust’s stock after purchasing an additional 19,974 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Equity LifeStyle Properties were worth $4,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GAMMA Investing LLC increased its holdings in Equity LifeStyle Properties by 36.0% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 217 shares in the last quarter. Tidal Investments LLC lifted its stake in Equity LifeStyle Properties by 35.3% in the 1st quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock valued at $5,106,000 after buying an additional 20,697 shares in the last quarter. PGGM Investments boosted its holdings in 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 worth $120,067,000 after buying an additional 1,804,156 shares during the last quarter. Victory Capital Management Inc. increased its stake in Equity LifeStyle Properties by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock worth $331,707,000 after buying an additional 39,864 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in Equity LifeStyle Properties during the 1st quarter worth approximately $876,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Compass Point upped their price target on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 price target on the stock. Evercore ISI upped their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Finally, Truist Financial lifted their price target on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Insiders Place Their Bets

In other news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Paul Seavey sold 31,988 shares of the 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 transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. The trade was a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Stock Up 0.1 %

NYSE:ELS opened at $70.94 on Monday. The company has a debt-to-equity ratio of 0.35, 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 company has a market cap of $13.55 billion, a price-to-earnings ratio of 36.57, a P/E/G ratio of 3.76 and a beta of 0.79. The stock’s fifty day moving average price is $70.38 and its two-hundred day moving average price is $68.15.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The firm had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. On average, analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.69%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 98.45%.

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.