Intech Investment Management LLC Sells 8,654 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Intech Investment Management LLC trimmed its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 38.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,985 shares of the real estate investment trust's stock after selling 8,654 shares during the period. Intech Investment Management LLC's holdings in Equity LifeStyle Properties were worth $998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Victory Capital Management Inc. grew its position in Equity LifeStyle Properties by 0.9% during the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust's stock valued at $331,707,000 after acquiring an additional 39,864 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Equity LifeStyle Properties by 5.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust's stock valued at $209,630,000 after acquiring an additional 153,715 shares during the last quarter. Boston Partners grew its position in Equity LifeStyle Properties by 4.2% during the first quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust's stock valued at $183,035,000 after acquiring an additional 113,891 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Equity LifeStyle Properties by 7.1% during 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. Finally, Principal Financial Group Inc. grew its position in Equity LifeStyle Properties by 56.5% during the third quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust's stock valued at $159,232,000 after acquiring an additional 805,681 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Paul Seavey sold 31,988 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. This trade represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the transaction, the chief executive officer now owns 260,936 shares of the company's stock, valued at $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Equity LifeStyle Properties Trading Up 1.0 %

ELS stock traded up $0.72 on Thursday, reaching $72.09. The company's stock had a trading volume of 818,989 shares, compared to its average volume of 1,210,830. The business has a fifty day simple moving average of $70.20 and a two-hundred day simple moving average of $68.30. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. The firm has a market cap of $13.77 billion, a PE ratio of 37.16, a PEG ratio of 3.78 and a beta of 0.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.72 by ($0.28). The firm 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%. Equity LifeStyle Properties's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 EPS. As a group, research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The company 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 $0.477 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.65%. Equity LifeStyle Properties's dividend payout ratio (DPR) is 98.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ELS. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a "hold" rating and a $72.00 price target on the stock. UBS Group raised Equity LifeStyle Properties to a "strong-buy" rating in a research note on Thursday, October 10th. Robert W. Baird increased their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Truist Financial increased their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. Finally, Evercore ISI increased their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an "in-line" rating in a research note on Monday, October 21st. Six investment 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.50.

About Equity LifeStyle Properties

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.