Creative Planning Sells 265 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Creative Planning lessened its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,891 shares of the real estate investment trust’s stock after selling 265 shares during the quarter. Creative Planning’s holdings in Equity LifeStyle Properties were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELS. Johnson Investment Counsel Inc. raised its position in shares of Equity LifeStyle Properties by 0.6% in the second 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 period. Toronto Dominion Bank raised its position in shares of Equity LifeStyle Properties by 0.9% in the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock valued at $1,106,000 after purchasing an additional 154 shares during the period. Wellington Management Group LLP raised its position in shares of Equity LifeStyle Properties by 0.3% in 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 purchasing an additional 155 shares during the period. LRI Investments LLC raised 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 valued at $139,000 after purchasing an additional 171 shares during the period. Finally, Naviter Wealth LLC raised its position in shares of Equity LifeStyle Properties by 1.6% in the first quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock valued at $805,000 after purchasing an additional 192 shares during the period. Institutional investors own 97.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ELS. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a research note on Thursday. They issued a “hold” rating and a $72.00 price objective on the stock. Truist Financial raised their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. 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. Evercore ISI raised their price objective on shares of 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, UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Hold” and an average price target of $71.44.

Equity LifeStyle Properties Stock Performance

Equity LifeStyle Properties stock opened at $70.14 on Friday. 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. The business’s 50-day moving average price is $71.36 and its two-hundred day moving average price is $66.58. The stock has a market cap of $13.08 billion, a PE ratio of 38.13, a P/E/G ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results 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 business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. As a group, analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.4775 dividend. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a yield of 2.72%. Equity LifeStyle Properties’s payout ratio is 104.37%.

Insider Buying and Selling at Equity LifeStyle Properties

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 transaction of $1,462,188.60. Following the transaction, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Equity LifeStyle Properties news, 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 value 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 $19,705,886.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,808 shares of company stock valued at $6,348,011. 1.40% of the stock is currently owned by company 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.