Caisse DE Depot ET Placement DU Quebec Sells 14,100 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Caisse DE Depot ET Placement DU Quebec lowered its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 14.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,294 shares of the real estate investment trust's stock after selling 14,100 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Equity LifeStyle Properties were worth $5,800,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in Equity LifeStyle Properties by 0.9% in the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust's stock valued at $331,707,000 after purchasing an additional 39,864 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Equity LifeStyle Properties by 5.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust's stock valued at $209,630,000 after buying an additional 153,715 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Equity LifeStyle Properties by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust's stock worth $176,250,000 after buying an additional 178,258 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Equity LifeStyle Properties by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,441,191 shares of the real estate investment trust's stock worth $174,155,000 after buying an additional 87,609 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Equity LifeStyle Properties by 370.6% in the third quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust's stock valued at $166,182,000 after acquiring an additional 1,834,491 shares in the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS traded down $0.62 during trading on Tuesday, reaching $69.73. The company had a trading volume of 797,768 shares, compared to its average volume of 1,205,545. The firm's fifty day moving average is $70.11 and its 200 day moving average is $68.51. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market capitalization of $13.32 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 3.74 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its earnings results 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 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 was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. On average, equities analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio (DPR) is currently 98.45%.

Insider Activity

In related news, CFO Paul Seavey sold 31,988 shares of the company's stock in a transaction 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 transaction, the chief financial officer now directly owns 148,463 shares of the company's stock, valued at approximately $11,109,486.29. The trade was a 17.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 260,936 shares of the company's stock, valued at $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

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a "hold" rating and a $72.00 target price for the company. Compass Point boosted their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Evercore ISI boosted their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an "in-line" rating in a report on Monday, October 21st. Finally, Truist Financial raised their price objective 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. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $72.50.

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.