Equity LifeStyle Properties, Inc. (NYSE:ELS) Stock Position Lowered by Tredje AP fonden

Tredje AP fonden lowered its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,149 shares of the real estate investment trust’s stock after selling 435 shares during the quarter. Tredje AP fonden’s holdings in Equity LifeStyle Properties were worth $1,833,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELS. Johnson Investment Counsel Inc. boosted its stake in shares of Equity LifeStyle Properties by 0.6% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock worth $1,745,000 after acquiring an additional 152 shares in the last quarter. Wellington Management Group LLP increased its stake in Equity LifeStyle Properties by 0.3% in the 4th quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock worth $4,224,000 after purchasing an additional 155 shares in the last quarter. LRI Investments LLC raised its holdings in Equity LifeStyle Properties by 8.7% during the 2nd quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 171 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Equity LifeStyle Properties by 4.7% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 177 shares during the period. Finally, Naviter Wealth LLC increased its position in shares of Equity LifeStyle Properties by 1.6% in the first quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock worth $805,000 after acquiring an additional 192 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ELS shares. Evercore ISI upped their price target 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, September 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Truist Financial lifted their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.50 to $82.00 in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $70.67.

Equity LifeStyle Properties Price Performance

ELS opened at $71.81 on Friday. The stock has a fifty day moving average price of $70.95 and a 200 day moving average price of $66.05. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The stock has a market cap of $13.39 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 4.32 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.23). The firm had revenue of $380.00 million for 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Analysts forecast that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.4775 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.66%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Insider Activity

In related news, CFO Paul Seavey sold 31,988 shares of the company’s 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 sale, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties 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 of the company’s stock, valued at $19,705,886.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the business’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 completion of the sale, the chief financial officer now owns 148,463 shares of the company’s stock, valued at $11,109,486.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,808 shares of company stock worth $6,348,011. 1.40% of the stock is owned by corporate 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.