Millennium Management LLC Sells 404,782 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Millennium Management LLC trimmed its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 87.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,278 shares of the real estate investment trust's stock after selling 404,782 shares during the period. Millennium Management LLC's holdings in Equity LifeStyle Properties were worth $3,796,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Mather Group LLC. purchased a new stake in Equity LifeStyle Properties in the 1st quarter worth about $25,000. Rise Advisors LLC purchased a new stake in Equity LifeStyle Properties in the 1st quarter worth about $27,000. V Square Quantitative Management LLC purchased a new stake in Equity LifeStyle Properties in the 2nd quarter worth about $30,000. Blue Trust Inc. lifted its stake in Equity LifeStyle Properties by 167.1% in the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 391 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Equity LifeStyle Properties by 36.0% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 217 shares in the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Up 0.3 %

Shares of NYSE ELS traded up $0.18 during mid-day trading on Monday, reaching $67.96. 814,307 shares of the company traded hands, compared to its average volume of 1,200,534. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a market cap of $12.67 billion, a PE ratio of 37.14, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The company's fifty day moving average is $71.41 and its two-hundred day moving average is $66.52. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.65 by ($0.23). The company had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The business's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 EPS. On average, analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.4775 per share. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.91 annualized dividend and a yield of 2.81%. Equity LifeStyle Properties's dividend payout ratio is presently 104.37%.

Insider Activity at Equity LifeStyle Properties

In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the sale, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Equity LifeStyle Properties news, 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 value of $2,492,160.00. Following the completion of the sale, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Waite sold 20,820 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the sale, the chief operating officer now owns 221,777 shares of the company's stock, valued at $15,575,398.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,808 shares of company stock worth $6,348,011 in the last 90 days. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Truist Financial upped their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, July 30th. UBS Group raised Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday. Wells Fargo & Company raised Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Evercore ISI upped their target price on Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Equity LifeStyle Properties currently has an average rating of "Moderate Buy" and a consensus target price of $71.38.

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.