Jacobs Levy Equity Management Inc. Takes $559,000 Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Jacobs Levy Equity Management Inc. bought a new stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,832 shares of the real estate investment trust's stock, valued at approximately $559,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELS. Townsquare Capital LLC lifted its position in Equity LifeStyle Properties by 23.7% during the 3rd quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust's stock valued at $916,000 after acquiring an additional 2,458 shares during the period. PGGM Investments boosted its position in shares of Equity LifeStyle Properties by 4,586.1% in the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust's stock worth $120,067,000 after purchasing an additional 1,804,156 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Equity LifeStyle Properties by 0.9% in 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 last quarter. Citigroup Inc. increased its position in Equity LifeStyle Properties by 16.7% during the 3rd quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust's stock valued at $15,210,000 after buying an additional 30,489 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Equity LifeStyle Properties by 60.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,950 shares of the real estate investment trust's stock valued at $2,211,000 after buying an additional 12,826 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group upgraded Equity LifeStyle Properties to a "strong-buy" rating in a report on Thursday, October 10th. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Truist Financial increased their price target on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a "hold" rating and a $72.00 price objective for the company. Finally, Evercore ISI increased their target price 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 analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $72.50.

Insider Transactions at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the business's stock in a transaction dated 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 owns 260,936 shares in the company, valued at approximately $19,705,886.72. The trade was 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 the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now owns 148,463 shares of the company's stock, valued at approximately $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. Corporate insiders own 1.40% of the company's stock.

Equity LifeStyle Properties Trading Down 1.2 %

NYSE:ELS traded down $0.87 during mid-day trading on Tuesday, hitting $69.24. 304,496 shares of the stock traded hands, compared to its average volume of 1,197,171. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The firm's 50 day moving average is $69.94 and its two-hundred day moving average is $68.72. The stock has a market capitalization of $13.23 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 3.70 and a beta of 0.77. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

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 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 analysts' expectations of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The business's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. On average, equities research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share 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. Shareholders of record on Friday, December 27th will be issued a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio is 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.