Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 11.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 437,200 shares of the real estate investment trust’s stock after selling 57,000 shares during the quarter. Renaissance Technologies LLC owned 0.23% of Equity LifeStyle Properties worth $28,475,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Equity LifeStyle Properties by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock worth $176,250,000 after acquiring an additional 178,258 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Equity LifeStyle Properties by 5.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock worth $209,630,000 after acquiring an additional 153,715 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Equity LifeStyle Properties by 3.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 312,519 shares of the real estate investment trust’s stock worth $20,354,000 after buying an additional 9,869 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Equity LifeStyle Properties by 0.6% during the 2nd quarter. William Blair Investment Management LLC now owns 574,938 shares of the real estate investment trust’s stock worth $37,446,000 after buying an additional 3,501 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Equity LifeStyle Properties by 7.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 64,354 shares of the real estate investment trust’s stock worth $4,104,000 after buying an additional 4,401 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Equity LifeStyle Properties

In related news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction 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 directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock valued at $6,348,011 in the last ninety days. Insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Trading Up 0.1 %

Shares of NYSE:ELS opened at $73.54 on Friday. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The company’s 50 day moving average is $70.84 and its two-hundred day moving average is $66.02. 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 company has a market cap of $13.71 billion, a PE ratio of 40.19, a P/E/G ratio of 4.32 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $380.00 million during 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 company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. Equities analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given 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 is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Wall Street Analyst Weigh In

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

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.