Fmr LLC Sells 2,314,968 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

FMR LLC decreased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 38.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,645,049 shares of the real estate investment trust's stock after selling 2,314,968 shares during the quarter. FMR LLC owned about 1.91% of Equity LifeStyle Properties worth $260,038,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ELS. Walleye Trading LLC bought a new position in Equity LifeStyle Properties during the first quarter valued at about $390,000. Atria Investments Inc lifted its holdings in Equity LifeStyle Properties by 7.0% in the 1st quarter. Atria Investments Inc now owns 30,109 shares of the real estate investment trust's stock worth $1,939,000 after purchasing an additional 1,974 shares during the last quarter. GAMMA Investing LLC boosted its position 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 worth $53,000 after purchasing an additional 217 shares during the period. DNB Asset Management AS grew its holdings in Equity LifeStyle Properties by 13.8% during the second quarter. DNB Asset Management AS now owns 28,155 shares of the real estate investment trust's stock valued at $1,834,000 after purchasing an additional 3,419 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of Equity LifeStyle Properties in the second quarter valued at approximately $9,429,000. Institutional investors and hedge funds own 97.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Robert W. Baird raised 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. Evercore ISI lifted their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an "in-line" rating in a research note on Monday, October 21st. Compass Point increased their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a "hold" rating and a $72.00 target price on the stock. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Six investment 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. According to MarketBeat, Equity LifeStyle Properties presently has an average rating of "Moderate Buy" and an average target price of $72.50.

Equity LifeStyle Properties Stock Performance

Shares of NYSE ELS traded down $0.75 during trading hours on Monday, reaching $70.58. The stock had a trading volume of 282,051 shares, compared to its average volume of 1,204,438. The company has a market cap of $13.48 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 3.79 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The business's fifty day moving average is $70.16 and its two-hundred day moving average is $68.46. 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 announced its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (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 business had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same quarter in the prior year, the company posted $0.71 EPS. The company's quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts expect 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. Shareholders of record on Friday, December 27th will be issued a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's payout ratio is 98.45%.

Insider Activity

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the business'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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

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.