Second Half Financial Partners LLC Cuts Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Second Half Financial Partners LLC lessened its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 39.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,050 shares of the real estate investment trust's stock after selling 16,194 shares during the quarter. Second Half Financial Partners LLC's holdings in Equity LifeStyle Properties were worth $1,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Equity LifeStyle Properties during the 3rd quarter valued at approximately $329,000. Caprock Group LLC purchased a new stake in shares of Equity LifeStyle Properties in the third quarter worth $54,866,000. Thrivent Financial for Lutherans increased its holdings in shares of Equity LifeStyle Properties by 44.3% during the third quarter. Thrivent Financial for Lutherans now owns 65,035 shares of the real estate investment trust's stock valued at $4,640,000 after acquiring an additional 19,974 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Equity LifeStyle Properties by 3.0% in the 3rd quarter. Natixis Advisors LLC now owns 26,676 shares of the real estate investment trust's stock worth $1,903,000 after purchasing an additional 775 shares during the last quarter. Finally, Archer Investment Corp boosted its stake in Equity LifeStyle Properties by 42.4% in the 3rd quarter. Archer Investment Corp now owns 1,680 shares of the real estate investment trust's stock worth $120,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 97.21% of the company's stock.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, 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 value of $2,492,160.00. Following the completion of the sale, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the firm's 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 sale, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $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 corporate insiders.

Equity LifeStyle Properties Stock Performance

ELS stock traded down $0.14 during midday trading on Tuesday, reaching $70.85. 1,153,024 shares of the company's stock traded hands, compared to its average volume of 1,213,111. The stock's 50-day moving average is $70.66 and its 200 day moving average is $67.99. The stock has a market cap of $13.54 billion, a P/E ratio of 36.52, a PEG ratio of 3.76 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. 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 (NYSE:ELS - Get Free Report) last posted 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 company 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%. The company's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. As a group, analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a dividend of $0.477 per share. The ex-dividend date is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.69%. Equity LifeStyle Properties's payout ratio is currently 98.45%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Compass Point boosted their price target 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. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a "hold" rating and a $72.00 price objective for the company. Robert W. Baird upped their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Equity LifeStyle Properties presently has an average rating of "Moderate Buy" and an average price target of $72.50.

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.