NFJ Investment Group LLC Lowers Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

NFJ Investment Group LLC trimmed its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 14.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,143 shares of the real estate investment trust's stock after selling 7,639 shares during the period. NFJ Investment Group LLC's holdings in Equity LifeStyle Properties were worth $3,149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new stake in Equity LifeStyle Properties during the second quarter valued at approximately $30,000. UMB Bank n.a. increased its holdings in Equity LifeStyle Properties by 356.4% during the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 417 shares during the last quarter. Blue Trust Inc. increased its holdings in Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 391 shares during the last quarter. GAMMA Investing LLC increased its holdings in 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 purchased a new stake in Equity LifeStyle Properties during the second quarter valued at approximately $54,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 transaction, the chief executive officer now directly owns 260,936 shares of the company's stock, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the stock in a transaction dated 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 in the company, valued at $11,109,486.29. This represents a 17.73 % 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 company insiders.

Equity LifeStyle Properties Stock Up 0.1 %

Shares of ELS stock traded up $0.05 during mid-day trading on Wednesday, hitting $69.78. The stock had a trading volume of 417,145 shares, compared to its average volume of 1,202,059. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. The firm has a market capitalization of $13.33 billion, a P/E ratio of 35.94, a price-to-earnings-growth ratio of 3.74 and a beta of 0.77. The firm's 50-day moving average is $70.05 and its two-hundred day moving average is $68.55. 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 (NYSE:ELS - Get Free Report) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.28). The firm had revenue of $387.30 million during the quarter, compared to analysts' expectations 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 quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio (DPR) is currently 98.45%.

Analyst Ratings Changes

ELS has been the subject of a number of research reports. Compass Point upped their target price on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Truist Financial upped their price target 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. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a "hold" rating and a $72.00 target price for the company. Finally, Robert W. Baird upped 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 equities 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $72.50.

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.