Sumitomo Mitsui Trust Group Inc. Sells 33,263 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Sumitomo Mitsui Trust Group Inc. decreased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 546,295 shares of the real estate investment trust's stock after selling 33,263 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.29% of Equity LifeStyle Properties worth $38,973,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ELS. V Square Quantitative Management LLC grew its position in shares of Equity LifeStyle Properties by 31.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust's stock worth $44,000 after buying an additional 146 shares during the period. Johnson Investment Counsel Inc. grew its holdings in Equity LifeStyle Properties by 0.6% in the second quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust's stock worth $1,745,000 after purchasing an additional 152 shares during the period. Toronto Dominion Bank increased its stake in Equity LifeStyle Properties by 0.9% in the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust's stock valued at $1,106,000 after purchasing an additional 154 shares in the last quarter. LRI Investments LLC increased its stake in Equity LifeStyle Properties by 8.7% in the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust's stock valued at $139,000 after purchasing an additional 171 shares in the last quarter. Finally, Farrow Financial Inc. raised its holdings in shares of Equity LifeStyle Properties by 1.0% during the second quarter. Farrow Financial Inc. now owns 22,089 shares of the real estate investment trust's stock valued at $1,439,000 after purchasing an additional 211 shares during the period. Institutional investors own 97.21% of the company's stock.

Equity LifeStyle Properties Stock Down 1.1 %

ELS opened at $70.89 on Friday. 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 $13.54 billion, a P/E ratio of 36.54, a PEG ratio of 3.85 and a beta of 0.79. The company's 50-day moving average is $70.81 and its 200 day moving average is $67.83. 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 (NYSE:ELS - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm 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. Research analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders 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 annualized dividend and a yield of 2.69%. Equity LifeStyle Properties's dividend payout ratio is currently 98.45%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ELS. Royal Bank of Canada restated a "sector perform" rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a "hold" rating and a $72.00 price objective for the company. Robert W. Baird upped their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Evercore ISI lifted their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an "in-line" rating in a research report on Monday, October 21st. Finally, UBS Group upgraded shares of Equity LifeStyle Properties to a "strong-buy" rating in a report on Thursday, October 10th. Six 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. According to MarketBeat.com, Equity LifeStyle Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.50.

Insider Buying and Selling at Equity LifeStyle Properties

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

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.