Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Bought by Citigroup Inc.

Citigroup Inc. grew its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 16.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 213,209 shares of the real estate investment trust's stock after purchasing an additional 30,489 shares during the quarter. Citigroup Inc. owned approximately 0.11% of Equity LifeStyle Properties worth $15,210,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Equity LifeStyle Properties by 3.7% during the 3rd 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 acquiring an additional 87,609 shares in the last quarter. L & S Advisors Inc raised its stake in shares of Equity LifeStyle Properties by 28.9% during the 3rd quarter. L & S Advisors Inc now owns 124,617 shares of the real estate investment trust's stock worth $8,890,000 after acquiring an additional 27,917 shares in the last quarter. Moran Wealth Management LLC raised its stake in shares of Equity LifeStyle Properties by 0.8% during the 3rd quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust's stock worth $1,264,000 after acquiring an additional 143 shares in the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of Equity LifeStyle Properties by 439.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 33,984 shares of the real estate investment trust's stock worth $2,424,000 after acquiring an additional 27,685 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Equity LifeStyle Properties during the 3rd quarter worth approximately $329,000. Institutional investors own 97.21% of the company's stock.

Insider Buying and Selling

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 sale, the chief financial officer now directly owns 148,463 shares of the company's stock, valued at approximately $11,109,486.29. This represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 260,936 shares in the company, valued at $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. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on ELS. Compass Point boosted their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI boosted 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. Truist Financial boosted their target price on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird boosted 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 report on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Equity LifeStyle Properties presently has a consensus rating of "Moderate Buy" and an average price target of $72.50.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock traded up $0.72 during trading hours on Thursday, hitting $72.09. The company's stock had a trading volume of 818,989 shares, compared to its average volume of 1,210,830. The company has a 50 day moving average of $70.20 and a 200 day moving average of $68.30. The stock has a market cap of $13.77 billion, a PE ratio of 37.16, a price-to-earnings-growth ratio of 3.78 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 - Get Free Report) last released its quarterly earnings data 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%. The firm's revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. On average, sell-side analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors 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 yield of 2.65%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 98.45%.

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.