ProShare Advisors LLC Has $33.09 Million Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

ProShare Advisors LLC boosted its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 10.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 508,061 shares of the real estate investment trust’s stock after purchasing an additional 48,215 shares during the quarter. ProShare Advisors LLC owned about 0.27% of Equity LifeStyle Properties worth $33,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELS. Mather Group LLC. acquired a new position in Equity LifeStyle Properties in the first quarter valued at about $25,000. Rise Advisors LLC bought a new position in Equity LifeStyle Properties in the first quarter valued at about $27,000. V Square Quantitative Management LLC bought a new position in Equity LifeStyle Properties in the second quarter valued at about $30,000. Blue Trust Inc. grew its position in Equity LifeStyle Properties by 167.1% in the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 391 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Equity LifeStyle Properties by 36.0% in the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 217 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Insider Transactions at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. 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 owned by company insiders.

Wall Street Analyst Weigh In

ELS has been the topic of a number of recent analyst reports. Truist Financial lifted their target price 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. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.50 to $82.00 in a research report on Thursday. 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 report on Wednesday, July 24th. Finally, Evercore ISI lifted their target price on 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. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $70.67.

Equity LifeStyle Properties Trading Down 2.4 %

NYSE ELS opened at $71.81 on Monday. The firm has a market capitalization of $13.39 billion, a P/E ratio of 39.24, a PEG ratio of 4.32 and a beta of 0.79. The business has a fifty day simple moving average of $70.95 and a 200 day simple moving average of $66.05. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. 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 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 business had revenue of $380.00 million during 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 firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

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

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.