Massachusetts Financial Services Co. MA Decreases Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Massachusetts Financial Services Co. MA decreased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 1.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,177,240 shares of the real estate investment trust's stock after selling 41,398 shares during the period. Massachusetts Financial Services Co. MA owned about 1.66% of Equity LifeStyle Properties worth $226,664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Equity LifeStyle Properties in the 2nd quarter valued at $30,000. UMB Bank n.a. grew its position in Equity LifeStyle Properties by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 417 shares during the period. Blue Trust Inc. raised its stake in shares of Equity LifeStyle Properties by 167.1% during the 2nd 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 lifted its holdings in shares of 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 valued at $53,000 after buying an additional 217 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Equity LifeStyle Properties in the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors own 97.21% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Evercore ISI lifted their price target on 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. UBS Group raised shares of Equity LifeStyle Properties to a "strong-buy" rating in a report on Thursday, October 10th. Truist Financial upped their price target on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Robert W. Baird upped their price target 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 research 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $72.50.

Insider Transactions at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 31,988 shares of the company'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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties 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 completion of the sale, the chief executive officer now owns 260,936 shares of the company's stock, 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. Company insiders own 1.40% of the company's stock.

Equity LifeStyle Properties Price Performance

Shares of ELS stock traded up $0.10 during trading hours on Friday, reaching $70.94. The company had a trading volume of 1,094,935 shares, compared to its average volume of 1,256,897. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 3.76 and a beta of 0.79. The stock has a fifty day moving average of $70.38 and a 200-day moving average of $68.08.

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 (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $315.78 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The firm's quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 98.45%.

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.