Cerity Partners LLC boosted its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 43.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,540 shares of the real estate investment trust's stock after acquiring an additional 24,727 shares during the quarter. Cerity Partners LLC's holdings in Equity LifeStyle Properties were worth $5,817,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in shares of Equity LifeStyle Properties in the second quarter worth approximately $30,000. UMB Bank n.a. increased its holdings in shares of Equity LifeStyle Properties by 356.4% in 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 last quarter. Blue Trust Inc. increased its holdings in shares of Equity LifeStyle Properties by 167.1% in 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 last quarter. GAMMA Investing LLC raised its position 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 buying an additional 217 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Equity LifeStyle Properties during the 2nd quarter worth $54,000. Hedge funds and other institutional investors own 97.21% of the company's stock.
Equity LifeStyle Properties Trading Up 1.0 %
Shares of Equity LifeStyle Properties stock traded up $0.72 on Thursday, hitting $72.09. The stock had a trading volume of 818,989 shares, compared to its average volume of 1,210,830. 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, Inc. has a one year low of $59.82 and a one year high of $76.60. The stock's 50-day simple moving average is $70.20 and its two-hundred day simple moving average is $68.30. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 3.78 and a beta of 0.79.
Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate 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 last year, the business earned $0.71 EPS. As a group, 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 given a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's payout ratio is 98.45%.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Truist Financial increased their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. UBS Group upgraded Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Wells Fargo & Company upgraded Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Compass Point upped their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird lifted their price target 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. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $72.50.
Get Our Latest Report on ELS
Insiders Place Their Bets
In related news, CFO Paul Seavey sold 31,988 shares of the business's stock in a transaction dated 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 owns 148,463 shares in the company, valued at $11,109,486.29. The trade was a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the chief executive officer now directly owns 260,936 shares of the company's stock, 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. Company insiders own 1.40% of the company's stock.
Equity LifeStyle Properties Company Profile
(
Free Report)
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.
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