Healthcare of Ontario Pension Plan Trust Fund Sells 52,500 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 65.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,500 shares of the real estate investment trust's stock after selling 52,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Equity LifeStyle Properties were worth $1,962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in Equity LifeStyle Properties by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust's stock worth $331,707,000 after buying an additional 39,864 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Equity LifeStyle Properties by 5.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust's stock worth $209,630,000 after acquiring an additional 153,715 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Equity LifeStyle Properties by 7.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust's stock valued at $176,250,000 after acquiring an additional 178,258 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Equity LifeStyle Properties by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,441,191 shares of the real estate investment trust's stock valued at $174,155,000 after acquiring an additional 87,609 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Equity LifeStyle Properties by 370.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust's stock valued at $166,182,000 after purchasing an additional 1,834,491 shares during the period. Institutional investors own 97.21% of the company's stock.

Wall Street Analysts Forecast Growth

ELS has been the topic of a number of analyst reports. Truist Financial upped their price objective on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. Robert W. Baird increased their price target on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI increased their target price on shares of 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. Finally, Compass Point increased their price objective 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. Six equities 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $72.50.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock traded down $0.98 during trading hours on Monday, hitting $70.35. 928,876 shares of the company were exchanged, compared to its average volume of 1,207,302. 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 stock has a market capitalization of $13.44 billion, a price-to-earnings ratio of 36.77, a P/E/G ratio of 3.79 and a beta of 0.79. The firm has a fifty day simple moving average of $70.16 and a 200 day simple moving average of $68.46. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The firm had revenue of $387.30 million during the quarter, compared to analysts' expectations of $315.78 million. During the same period in the prior year, the business earned $0.71 earnings per share. The business's quarterly revenue was down .4% compared to the same quarter last year. Research 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 firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders 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 yield of 2.71%. Equity LifeStyle Properties's dividend payout ratio is presently 98.45%.

Insiders Place Their Bets

In other news, CEO Marguerite M. Nader sold 33,000 shares of the company's 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 completion of the transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul Seavey sold 31,988 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total value of $2,393,662.04. Following the completion of the sale, the chief financial officer now owns 148,463 shares of the company's stock, valued at $11,109,486.29. The trade was a 17.73 % 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 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.