Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. trimmed its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 20.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the real estate investment trust's stock after selling 51,747 shares during the period. Point72 Asset Management L.P. owned approximately 0.10% of Equity LifeStyle Properties worth $14,268,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Townsquare Capital LLC boosted its holdings in shares of Equity LifeStyle Properties by 23.7% in the third 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 in the last quarter. GAMMA Investing LLC boosted its holdings 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 valued at $53,000 after purchasing an additional 217 shares in the last quarter. PGGM Investments boosted its holdings in 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 valued at $120,067,000 after purchasing an additional 1,804,156 shares in the last quarter. Victory Capital Management Inc. increased its position in Equity LifeStyle Properties by 0.9% during 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 purchasing an additional 39,864 shares during the period. Finally, Citigroup Inc. raised its stake in shares of 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 worth $15,210,000 after buying an additional 30,489 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Equity LifeStyle Properties

In related news, CEO Marguerite M. Nader sold 33,000 shares of the company'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 transaction of $2,492,160.00. Following the completion of the transaction, the chief executive officer now owns 260,936 shares of the company's stock, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Equity LifeStyle Properties Price Performance

ELS stock traded down $0.53 on Friday, reaching $69.70. The company had a trading volume of 830,117 shares, compared to its average volume of 1,122,770. 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, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The company's fifty day moving average is $69.97 and its 200 day moving average is $68.61. The company has a market cap of $13.32 billion, a P/E ratio of 35.93, a PEG ratio of 3.72 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its quarterly 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). The firm had revenue of $387.30 million for 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%. Equity LifeStyle Properties's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 earnings per share. On average, research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share 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. Stockholders of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio is currently 98.45%.

Analysts Set New Price Targets

ELS has been the topic of a number of recent analyst reports. Evercore ISI upped their price objective 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. UBS Group raised shares of Equity LifeStyle Properties to a "strong-buy" rating in a research note on Thursday, October 10th. Compass Point raised their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Finally, Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a "hold" rating and a $72.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.50.

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.