State Street Corp cut its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,903,183 shares of the real estate investment trust's stock after selling 61,309 shares during the period. State Street Corp owned about 5.18% of Equity LifeStyle Properties worth $711,178,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Quantinno Capital Management LP boosted its holdings in shares of Equity LifeStyle Properties by 14,049.2% in the 3rd quarter. Quantinno Capital Management LP now owns 713,971 shares of the real estate investment trust's stock valued at $50,935,000 after buying an additional 708,925 shares during the period. Quarry LP lifted its position in Equity LifeStyle Properties by 228.8% in the 3rd quarter. Quarry LP now owns 1,519 shares of the real estate investment trust's stock valued at $108,000 after purchasing an additional 1,057 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Equity LifeStyle Properties in the 3rd quarter valued at about $1,932,000. Investment Management Corp of Ontario lifted its position in Equity LifeStyle Properties by 48.2% in the 3rd quarter. Investment Management Corp of Ontario now owns 5,841 shares of the real estate investment trust's stock valued at $417,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Equity LifeStyle Properties in the 3rd quarter valued at about $559,000. 97.21% of the stock is owned by institutional investors and hedge funds.
Equity LifeStyle Properties Price Performance
Shares of NYSE ELS traded up $0.41 during midday trading on Monday, reaching $70.11. The company's stock had a trading volume of 1,142,635 shares, compared to its average volume of 1,200,863. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average price of $69.97 and a 200 day moving average price of $68.67. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $76.60. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 3.70 and a beta of 0.77.
Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its 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). The business 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%. The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. On average, equities research analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.
Equity LifeStyle Properties Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio (DPR) is currently 98.45%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an "in-line" rating in a research report on Monday, October 21st. Robert W. Baird lifted their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. UBS Group upgraded shares of Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Compass Point boosted their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Truist Financial boosted 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. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.50.
Read Our Latest Research Report on ELS
Insider Transactions at Equity LifeStyle Properties
In related news, CEO Marguerite M. Nader sold 33,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction 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. The trade was a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the business'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 transaction of $2,393,662.04. Following the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Equity LifeStyle Properties Profile
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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.
See Also
![Institutional Ownership by Quarter for Equity LifeStyle Properties (NYSE:ELS)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NYSE&Symbol=ELS)
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