Sei Investments Co. Purchases 75,975 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Sei Investments Co. lifted its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 10.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 808,007 shares of the real estate investment trust’s stock after purchasing an additional 75,975 shares during the quarter. Sei Investments Co. owned 0.43% of Equity LifeStyle Properties worth $52,626,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ELS. Mather Group LLC. bought a new position in shares of Equity LifeStyle Properties in the first quarter valued at $25,000. Rise Advisors LLC bought a new position in shares of Equity LifeStyle Properties in the first quarter valued at approximately $27,000. V Square Quantitative Management LLC purchased a new position in shares of Equity LifeStyle Properties during the second quarter valued at approximately $30,000. Blue Trust Inc. raised its position in Equity LifeStyle Properties by 167.1% in the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 391 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Equity LifeStyle Properties by 36.0% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 217 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $71.81 on Monday. The company has a 50 day moving average of $70.95 and a 200 day moving average 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. The stock has a market cap 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 released its quarterly earnings results 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). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. During the same quarter last year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side 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. Shareholders of record on Friday, September 27th will be issued a $0.4775 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.66%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Truist Financial boosted their price target 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. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.50 to $82.00 in a research note on Thursday. Evercore ISI increased 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity LifeStyle Properties has a consensus rating of “Hold” and an average target price of $70.67.

Insider Activity

In related news, CEO Marguerite M. Nader sold 33,000 shares of the company’s 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 directly owns 260,936 shares in the company, valued at $19,705,886.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction on Tuesday, September 17th. The shares were 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 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 is accessible through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the transaction, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,808 shares of company stock worth $6,348,011. 1.40% of the stock is currently owned by insiders.

Equity LifeStyle Properties Company 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.