Verition Fund Management LLC Sells 123,361 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Verition Fund Management LLC reduced its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 89.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,300 shares of the real estate investment trust's stock after selling 123,361 shares during the quarter. Verition Fund Management LLC's holdings in Equity LifeStyle Properties were worth $1,092,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Daiwa Securities Group Inc. increased its holdings in shares of Equity LifeStyle Properties by 370.6% in the third quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust's stock valued at $166,182,000 after buying an additional 1,834,491 shares in the last quarter. PGGM Investments raised its position in shares of Equity LifeStyle Properties by 4,586.1% during the second quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust's stock worth $120,067,000 after purchasing an additional 1,804,156 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Equity LifeStyle Properties by 592.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,963 shares of the real estate investment trust's stock valued at $116,068,000 after purchasing an additional 1,391,846 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Equity LifeStyle Properties by 56.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust's stock valued at $159,232,000 after purchasing an additional 805,681 shares during the period. Finally, Caprock Group LLC purchased a new position in Equity LifeStyle Properties in the 3rd quarter worth about $54,866,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on ELS. Compass Point upped 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. Evercore ISI upped 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. Robert W. Baird lifted their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a "hold" rating and a $72.00 target price for the company. Finally, UBS Group upgraded 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Equity LifeStyle Properties presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.50.

Equity LifeStyle Properties Stock Up 0.6 %

ELS stock traded up $0.41 during mid-day trading on Monday, hitting $70.11. The stock had a trading volume of 1,095,806 shares, compared to its average volume of 1,200,863. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 3.70 and a beta of 0.77. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The company has a fifty day moving average of $69.94 and a 200 day moving average of $68.72.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last posted its earnings results 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 return on equity of 24.10% and a net margin of 23.97%. The business had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. During the same period in the previous year, the company earned $0.71 earnings per share. The company's quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.477 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.72%. Equity LifeStyle Properties's payout ratio is presently 98.45%.

Insider Activity at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 260,936 shares of the company's stock, valued at approximately $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company 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.