Public Sector Pension Investment Board Acquires 5,370 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Public Sector Pension Investment Board increased its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 30.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,147 shares of the real estate investment trust’s stock after buying an additional 5,370 shares during the quarter. Public Sector Pension Investment Board’s holdings in Equity LifeStyle Properties were worth $1,651,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Equity LifeStyle Properties in the 2nd quarter valued at approximately $30,000. UMB Bank n.a. boosted its position 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 valued at $38,000 after buying an additional 417 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Equity LifeStyle Properties by 167.1% during the second 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 last quarter. GAMMA Investing LLC increased its holdings in shares of Equity LifeStyle Properties by 36.0% during the second 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 in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Equity LifeStyle Properties in the 2nd quarter valued at $54,000. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Trading Up 0.3 %

ELS opened at $70.21 on Friday. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The company has a fifty day moving average of $69.99 and a 200-day moving average of $68.57. The stock has a market cap of $13.41 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 3.70 and a beta of 0.77. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The firm had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.71 EPS. On average, sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is 98.45%.

Insider Transactions at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the 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 transaction, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties 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 completion of the sale, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This trade represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

ELS has been the topic of a number of research reports. Robert W. Baird boosted their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI lifted their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Compass Point upped their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 price target on the stock. Six equities research 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 stock. According to MarketBeat.com, Equity LifeStyle Properties has a consensus rating of “Moderate Buy” and an average price target of $72.50.

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.