New York State Teachers Retirement System Sells 700 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

New York State Teachers Retirement System decreased its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 134,068 shares of the real estate investment trust’s stock after selling 700 shares during the quarter. New York State Teachers Retirement System’s holdings in Equity LifeStyle Properties were worth $9,564,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Equity LifeStyle Properties during the 2nd quarter worth about $30,000. UMB Bank n.a. boosted its holdings in shares of Equity LifeStyle Properties by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 417 shares during the period. Blue Trust Inc. boosted its holdings in shares of 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 worth $40,000 after buying an additional 391 shares during the period. GAMMA Investing LLC boosted its holdings 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 buying an additional 217 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Equity LifeStyle Properties during the 2nd quarter worth about $54,000. Institutional investors own 97.21% of the company’s stock.

Insider Buying and Selling

In related news, 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the business’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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $11,109,486.29. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,808 shares of company stock worth $6,348,011 in the last three months. 1.40% of the stock is owned by corporate insiders.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $69.32 on Monday. The firm has a 50 day moving average of $71.03 and a 200-day moving average of $67.17. The stock has a market capitalization of $13.24 billion, a PE ratio of 35.73, a PEG ratio of 3.83 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. 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 data on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The company had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. Equity LifeStyle Properties’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. On average, equities research analysts predict that Equity LifeStyle Properties, Inc. will post 2.9 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is 98.45%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ELS shares. Robert W. Baird lifted their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Truist Financial lifted 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. Evercore ISI lifted their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.40.

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.