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

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

A number of other large investors have also bought and sold shares of ELS. V Square Quantitative Management LLC bought a new position in shares of Equity LifeStyle Properties in the second quarter worth about $30,000. UMB Bank n.a. raised its position in Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 417 shares during the last quarter. Blue Trust Inc. lifted its holdings in Equity LifeStyle Properties by 167.1% during the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust's stock worth $40,000 after buying an additional 391 shares in the last quarter. GAMMA Investing LLC boosted its position 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 buying an additional 217 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Equity LifeStyle Properties in the 2nd quarter valued at $54,000. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Trading Down 1.1 %

Shares of ELS traded down $0.82 during trading hours on Friday, reaching $70.89. The stock had a trading volume of 1,518,301 shares, compared to its average volume of 1,333,106. The company has a market cap of $13.54 billion, a P/E ratio of 36.54, a P/E/G ratio of 3.76 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average of $70.81 and a 200 day moving average of $67.88.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced 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). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The business had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. During the same quarter last year, the company earned $0.71 earnings per share. The firm's revenue was down .4% compared to the same quarter last year. On average, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties's payout ratio is currently 98.45%.

Insider Activity

In related news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction dated Monday, September 16th. The stock was 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 directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. This trade represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the business's 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 in the company, valued at $11,109,486.29. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ELS shares. Compass Point upped their price target on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a "hold" rating and a $72.00 target price on the stock. UBS Group raised shares of Equity LifeStyle Properties to a "strong-buy" rating in a research note on Thursday, October 10th. Royal Bank of Canada reaffirmed 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. Finally, Truist Financial upped their target price on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a "hold" rating in a research report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.