Kayne Anderson Rudnick Investment Management LLC Purchases 4,397 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Kayne Anderson Rudnick Investment Management LLC grew its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 18.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,112 shares of the real estate investment trust’s stock after purchasing an additional 4,397 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Equity LifeStyle Properties were worth $1,831,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. acquired a new stake in Equity LifeStyle Properties in the 1st quarter valued at $25,000. Rise Advisors LLC acquired a new position in Equity LifeStyle Properties during the first quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in Equity LifeStyle Properties during the second quarter valued at approximately $30,000. Blue Trust Inc. grew its stake 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 purchasing an additional 391 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of 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 purchasing 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 $73.13 on Tuesday. The firm has a market cap of $13.64 billion, a P/E ratio of 39.96, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. The business’s 50 day moving average is $71.07 and its 200-day moving average is $66.10. 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, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 23.71% and a net margin of 23.56%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. Equities research analysts predict 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. 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 dividend on an annualized basis and a yield of 2.61%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Insiders Place Their Bets

In other news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction that occurred on 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 $15,575,398.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction on 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 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 SEC, which is accessible through the SEC website. Also, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock worth $6,348,011 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ELS. Evercore ISI increased their price target on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Truist Financial boosted their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Equity LifeStyle Properties has a consensus rating of “Hold” and a consensus target price 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.