Jane Street Group LLC Buys 169,445 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Jane Street Group LLC grew its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 267.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,698 shares of the real estate investment trust's stock after purchasing an additional 169,445 shares during the quarter. Jane Street Group LLC owned about 0.12% of Equity LifeStyle Properties worth $16,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Equity LifeStyle Properties during the 2nd quarter worth approximately $30,000. UMB Bank n.a. raised its stake 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 buying an additional 417 shares during the period. Blue Trust Inc. raised its stake in 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 worth $40,000 after buying an additional 391 shares during the period. Acadian Asset Management LLC acquired a new position in Equity LifeStyle Properties during the 2nd quarter worth approximately $54,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Equity LifeStyle Properties during the 3rd quarter worth approximately $75,000. 97.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Equity LifeStyle Properties news, 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 transaction of $2,393,662.04. Following the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 260,936 shares in the company, valued at $19,705,886.72. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ELS has been the topic of a number of research reports. Evercore ISI upped their price target 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. Wells Fargo & Company raised Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $70.50 to $82.00 in a report on Thursday, September 19th. UBS Group raised Equity LifeStyle Properties to a "strong-buy" rating in a report 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 report on Tuesday, October 22nd. Finally, 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 report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, 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 $0.65 during trading on Wednesday, hitting $68.35. 1,258,872 shares of the company were exchanged, compared to its average volume of 1,200,304. 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, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. The company has a market cap of $13.06 billion, a PE ratio of 35.23, a P/E/G ratio of 3.70 and a beta of 0.77. The stock has a 50 day moving average of $69.92 and a 200 day moving average of $68.77.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last issued 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 return on equity of 24.10% and a net margin of 23.97%. The business had revenue of $387.30 million during the quarter, compared to analysts' expectations of $315.78 million. During the same quarter last year, the business posted $0.71 EPS. The company's quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a $0.477 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.79%. 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.