Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 38.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,935 shares of the real estate investment trust’s stock after selling 199,114 shares during the quarter. Hsbc Holdings PLC owned 0.17% of Equity LifeStyle Properties worth $20,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. PGGM Investments grew its stake in shares of Equity LifeStyle Properties by 4,586.1% during the second quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after acquiring an additional 1,804,156 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Equity LifeStyle Properties by 55.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock valued at $97,357,000 after purchasing an additional 536,864 shares during the last quarter. ProShare Advisors LLC boosted its stake in Equity LifeStyle Properties by 4,590.4% in the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after purchasing an additional 450,042 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Equity LifeStyle Properties by 569.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock worth $32,235,000 after purchasing an additional 421,062 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after purchasing an additional 354,718 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Trading Down 2.4 %

Equity LifeStyle Properties stock opened at $71.81 on Friday. The firm has a market cap of $13.39 billion, a PE 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. The stock’s 50 day simple moving average is $70.95 and its two-hundred day simple moving average is $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 (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 analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The firm had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. During the same period last year, the company posted $0.66 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.4775 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Insider Buying and Selling

In other news, CFO Paul Seavey sold 31,988 shares of the business’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 in the company, valued at $11,109,486.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the transaction, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul Seavey sold 31,988 shares of the business’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 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 sold 85,808 shares of company stock valued at $6,348,011. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ELS. Evercore ISI lifted their price objective on shares of 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 lifted their price target for the stock from $70.50 to $82.00 in a research report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Finally, Truist Financial lifted their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Seven 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, the company currently has an average rating of “Hold” and a consensus price target of $70.67.

Equity LifeStyle Properties 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.