Adelante Capital Management LLC Sells 190,449 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Adelante Capital Management LLC reduced its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 51.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 177,242 shares of the real estate investment trust's stock after selling 190,449 shares during the period. Equity LifeStyle Properties accounts for 0.6% of Adelante Capital Management LLC's holdings, making the stock its 23rd biggest holding. Adelante Capital Management LLC owned 0.09% of Equity LifeStyle Properties worth $12,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Equity LifeStyle Properties during the second quarter valued at about $30,000. UMB Bank n.a. raised its stake in shares of 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. lifted its holdings in shares of 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 valued at $40,000 after purchasing an additional 391 shares in the last quarter. GAMMA Investing LLC boosted its position 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 valued at $53,000 after buying an additional 217 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Equity LifeStyle Properties during the second quarter worth $54,000. Institutional investors and hedge funds own 97.21% of the company's stock.

Equity LifeStyle Properties Stock Performance

Shares of ELS traded down $0.76 during mid-day trading on Friday, hitting $71.33. The stock had a trading volume of 674,408 shares, compared to its average volume of 1,195,000. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. The business has a fifty day moving average price of $70.16 and a 200-day moving average price of $68.43. The firm has a market cap of $13.63 billion, a P/E ratio of 36.77, a PEG ratio of 3.79 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced 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 firm had revenue of $387.30 million during 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 company's revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. On average, equities research analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 98.45%.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction dated 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 completion of the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction dated Monday, September 16th. The stock was 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 in the company, valued at approximately $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Jefferies Financial Group began 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. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Robert W. Baird increased their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Truist Financial boosted their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a "hold" rating in a research note on Tuesday, November 12th. Finally, Compass Point increased their price target on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Six 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 data from MarketBeat, Equity LifeStyle Properties has an average rating of "Moderate Buy" and an average target price 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.