Assetmark Inc. Buys 7,847 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Assetmark Inc. raised its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 105.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,279 shares of the real estate investment trust's stock after purchasing an additional 7,847 shares during the period. Assetmark Inc.'s holdings in Equity LifeStyle Properties were worth $1,090,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Centersquare Investment Management LLC increased its position in Equity LifeStyle Properties by 22.9% in the first quarter. Centersquare Investment Management LLC now owns 123,030 shares of the real estate investment trust's stock worth $7,417,000 after purchasing an additional 22,900 shares during the period. GAMMA Investing LLC boosted its stake in Equity LifeStyle Properties by 36.0% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 217 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Equity LifeStyle Properties by 3.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust's stock worth $21,952,000 after acquiring an additional 12,444 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Equity LifeStyle Properties by 35.3% in the first quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust's stock valued at $5,106,000 after purchasing an additional 20,697 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust's stock worth $22,321,000 after buying an additional 354,718 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Evercore ISI upped their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. Compass Point lifted their price target on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Truist Financial lifted their price objective 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. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $72.50.

Equity LifeStyle Properties Price Performance

Equity LifeStyle Properties stock traded up $0.01 during mid-day trading on Friday, reaching $71.72. 256,894 shares of the company were exchanged, compared to its average volume of 1,208,502. The company has a fifty day simple moving average of $70.87 and a 200-day simple moving average of $67.71. The firm has a market cap of $13.70 billion, a PE ratio of 36.96, a PEG ratio of 3.85 and a beta of 0.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. 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 posted 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). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The company had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same period last year, the firm earned $0.71 EPS. The firm's revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share 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. Shareholders of record on Friday, December 27th will be given a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.66%. Equity LifeStyle Properties's dividend payout ratio (DPR) is currently 98.45%.

Insider Activity at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following the completion of the transaction, the chief financial officer now directly owns 148,463 shares of the company's stock, valued at approximately $11,109,486.29. This trade represents a 17.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value 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 position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Equity LifeStyle Properties Company 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.