Northwestern Mutual Wealth Management Co. Sells 317 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 16.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,639 shares of the real estate investment trust’s stock after selling 317 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Equity LifeStyle Properties were worth $107,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ELS. Mather Group LLC. bought a new stake in Equity LifeStyle Properties in the first quarter valued at $25,000. Rise Advisors LLC bought a new stake in shares of Equity LifeStyle Properties in the 1st quarter worth about $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Equity LifeStyle Properties during the 2nd quarter worth about $30,000. Blue Trust Inc. lifted its holdings in Equity LifeStyle Properties by 167.1% during the 2nd 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 during the last quarter. Finally, GAMMA Investing LLC boosted 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 buying an additional 217 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity LifeStyle Properties Trading Up 0.6 %

Shares of ELS opened at $67.79 on Friday. The stock’s fifty day simple moving average is $71.47 and its 200-day simple moving average is $66.46. The firm has a market capitalization of $12.64 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 3.60 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 company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34.

Equity LifeStyle Properties (NYSE:ELS) last released its 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). The business had revenue of $380.00 million for the quarter, compared to analyst estimates 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 previous year, the company posted $0.66 earnings per share. As a group, research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.4775 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was 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 100.00%.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, 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 transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Marguerite M. Nader sold 33,000 shares of the business’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 transaction of $2,492,160.00. Following the completion of the transaction, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at $15,575,398.71. The trade was a 0.00 % decrease in their position. 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. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ELS. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Evercore ISI raised their price target on Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Truist Financial boosted their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada restated 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. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Equity LifeStyle Properties currently has an average rating of “Hold” and an average target price of $71.38.

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.