Envestnet Asset Management Inc. Acquires 9,869 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Envestnet Asset Management Inc. grew its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 312,519 shares of the real estate investment trust’s stock after acquiring an additional 9,869 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Equity LifeStyle Properties worth $20,354,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Johnson Investment Counsel Inc. lifted its stake in shares of Equity LifeStyle Properties by 0.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock valued at $1,745,000 after purchasing an additional 152 shares during the last quarter. Wellington Management Group LLP raised its holdings in Equity LifeStyle Properties by 0.3% during the fourth quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock valued at $4,224,000 after buying an additional 155 shares in the last quarter. LRI Investments LLC lifted its position in shares of Equity LifeStyle Properties by 8.7% in the second 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 last quarter. Naviter Wealth LLC boosted its stake in shares of Equity LifeStyle Properties by 1.6% during the 1st 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. Finally, Farrow Financial Inc. raised its stake in shares of Equity LifeStyle Properties by 1.0% in the 2nd quarter. Farrow Financial Inc. now owns 22,089 shares of the real estate investment trust’s stock valued at $1,439,000 after acquiring an additional 211 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

Equity LifeStyle Properties Stock Down 2.4 %

ELS stock opened at $71.81 on Monday. The business’s 50-day simple moving average is $70.95 and its 200 day simple moving average is $66.05. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The company has a market cap of $13.39 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data 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). The firm had revenue of $380.00 million for the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. On average, research 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 disclosed 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. 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. The ex-dividend date is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Insider Activity

In other Equity LifeStyle Properties 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 transaction of $1,462,188.60. Following the completion of the transaction, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,808 shares of company stock worth $6,348,011. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

ELS has been the subject of a number of recent analyst reports. Evercore ISI upped their target price on Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.50 to $82.00 in a research report on Thursday. Finally, Truist Financial raised their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.