Dimensional Fund Advisors LP Grows Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Dimensional Fund Advisors LP grew its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 7.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,706,099 shares of the real estate investment trust’s stock after acquiring an additional 178,258 shares during the quarter. Dimensional Fund Advisors LP owned about 1.45% of Equity LifeStyle Properties worth $176,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ELS. Vanguard Group Inc. grew its stake in Equity LifeStyle Properties by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock worth $1,614,469,000 after buying an additional 240,853 shares during the last quarter. Victory Capital Management Inc. grew its stake in Equity LifeStyle Properties by 7.8% during the 2nd quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock worth $300,237,000 after buying an additional 331,945 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Equity LifeStyle Properties by 5.0% during 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 buying an additional 153,715 shares during the last quarter. Boston Partners grew its stake in Equity LifeStyle Properties by 4.2% during the 1st quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock worth $183,035,000 after buying an additional 113,891 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Equity LifeStyle Properties by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,853,283 shares of the real estate investment trust’s stock worth $120,704,000 after buying an additional 27,773 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial raised their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI raised their price target on Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. 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 report on Thursday. Finally, Royal Bank of Canada reaffirmed 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. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $70.67.

Insider Activity

In other news, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 of the company’s stock, valued at approximately $11,109,486.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the transaction, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at $15,575,398.71. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction on Tuesday, September 17th. The stock was 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 of the company’s stock, valued at $11,109,486.29. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock valued at $6,348,011 in the last three months. 1.40% of the stock is currently owned by company insiders.

Equity LifeStyle Properties Stock Down 2.4 %

ELS opened at $71.81 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The business has a 50 day simple moving average of $70.95 and a 200-day simple moving average of $66.05. The stock has a market capitalization of $13.39 billion, a P/E ratio of 39.24, a P/E/G ratio of 4.32 and a beta of 0.79. 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 posted its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. On average, equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share 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 $0.4775 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

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.