Sumitomo Mitsui Trust Group Inc. Sells 33,263 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 546,295 shares of the real estate investment trust’s stock after selling 33,263 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.29% of Equity LifeStyle Properties worth $38,973,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ELS. V Square Quantitative Management LLC purchased a new position in shares of Equity LifeStyle Properties in the 2nd quarter worth approximately $30,000. UMB Bank n.a. grew its holdings in Equity LifeStyle Properties by 356.4% in the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 417 shares during the last quarter. Blue Trust Inc. grew its holdings 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 worth $40,000 after purchasing an additional 391 shares during the last quarter. GAMMA Investing LLC lifted 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 valued at $53,000 after purchasing an additional 217 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Equity LifeStyle Properties in the 2nd quarter worth $54,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELS has been the topic of several recent analyst reports. Truist Financial upped their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 price objective on the stock. Robert W. Baird lifted their target price 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 upped their price target for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Finally, Compass Point raised their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.50.

Equity LifeStyle Properties Stock Performance

Shares of NYSE ELS opened at $70.89 on Friday. The company has a 50 day simple moving average of $70.81 and a two-hundred day simple moving average of $67.83. The stock has a market cap of $13.54 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 3.85 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 posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). The business had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. Equity LifeStyle Properties’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share. As a group, analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The business also recently declared 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 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 98.45%.

Insider Activity at Equity LifeStyle Properties

In related news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This trade represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the transaction, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

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.