Asset Management One Co. Ltd. Decreases Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Asset Management One Co. Ltd. lessened its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 2.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 384,842 shares of the real estate investment trust's stock after selling 8,302 shares during the period. Asset Management One Co. Ltd. owned 0.21% of Equity LifeStyle Properties worth $27,455,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ELS. V Square Quantitative Management LLC purchased a new stake in Equity LifeStyle Properties during the second quarter valued at approximately $30,000. UMB Bank n.a. boosted its holdings in Equity LifeStyle Properties by 356.4% in the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 417 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 391 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 valued at $53,000 after purchasing an additional 217 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Equity LifeStyle Properties during the 2nd quarter worth approximately $54,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction dated 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 sale, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following the completion of the sale, the chief financial officer now owns 148,463 shares of the company's stock, valued at $11,109,486.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Patrick Waite sold 20,820 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were 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 directly owns 221,777 shares in the company, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock worth $6,348,011 in the last quarter. Corporate insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

ELS has been the subject of a number of research analyst reports. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and raised their price target for the stock 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 research report on Thursday, October 10th. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a "hold" rating and a $72.00 price objective on the stock. Evercore ISI lifted their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. Finally, Robert W. Baird increased their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Equity LifeStyle Properties has an average rating of "Moderate Buy" and an average target price of $72.40.

Equity LifeStyle Properties Stock Performance

Shares of ELS traded up $0.66 during trading hours on Tuesday, hitting $70.09. The stock had a trading volume of 849,914 shares, compared to its average volume of 1,202,766. The firm has a 50-day moving average price of $71.01 and a 200 day moving average price of $67.26. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The firm has a market capitalization of $13.39 billion, a price-to-earnings ratio of 35.57, 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 issued its quarterly earnings data 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 firm had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company's revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.71 EPS. As a group, research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.9 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's 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.