abrdn plc Lowers Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

abrdn plc trimmed its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 55.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,796 shares of the real estate investment trust's stock after selling 102,009 shares during the period. abrdn plc's holdings in Equity LifeStyle Properties were worth $5,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norden Group LLC purchased a new stake in Equity LifeStyle Properties in the 1st quarter worth approximately $990,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Equity LifeStyle Properties in the 1st quarter valued at about $831,000. BNP Paribas Financial Markets boosted its position in shares of Equity LifeStyle Properties by 85.6% during the 1st quarter. BNP Paribas Financial Markets now owns 240,556 shares of the real estate investment trust's stock valued at $15,492,000 after acquiring an additional 110,914 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Equity LifeStyle Properties by 6.8% during the first quarter. Janney Montgomery Scott LLC now owns 194,795 shares of the real estate investment trust's stock worth $12,545,000 after purchasing an additional 12,434 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Equity LifeStyle Properties by 4.6% in the first quarter. Daiwa Securities Group Inc. now owns 73,878 shares of the real estate investment trust's stock worth $4,758,000 after purchasing an additional 3,234 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

Equity LifeStyle Properties Stock Performance

Shares of NYSE ELS traded down $0.80 during midday trading on Friday, hitting $69.32. 1,087,722 shares of the company's stock traded hands, compared to its average volume of 1,325,494. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The stock has a market capitalization of $13.24 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 3.83 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. The firm has a fifty day moving average of $71.03 and a 200 day moving average of $67.17.

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 the consensus estimate 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 company posted $0.71 earnings per share. The company's revenue was down .4% compared to the same quarter last year. On average, analysts forecast that Equity LifeStyle Properties, Inc. will post 2.9 earnings per share 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. Stockholders 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 dividend yield of 2.75%. Equity LifeStyle Properties's payout ratio is 98.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company upgraded Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. UBS Group upgraded Equity LifeStyle Properties to a "strong-buy" rating in a report on Thursday, October 10th. Evercore ISI lifted 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. Truist Financial increased their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a "hold" rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $72.40.

Insider Transactions at Equity LifeStyle Properties

In other news, COO Patrick Waite sold 20,820 shares of the company'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 transaction of $1,462,188.60. Following the sale, the chief operating officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the business'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 transaction of $1,462,188.60. Following the sale, the chief operating officer now directly owns 221,777 shares of the company's stock, valued at $15,575,398.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 260,936 shares of the company's stock, valued at $19,705,886.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,808 shares of company stock valued at $6,348,011. 1.40% of the stock is currently owned by insiders.

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.