Victory Capital Management Inc. Increases Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Victory Capital Management Inc. increased its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,649,670 shares of the real estate investment trust's stock after purchasing an additional 39,864 shares during the period. Victory Capital Management Inc. owned approximately 2.43% of Equity LifeStyle Properties worth $331,707,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Equity LifeStyle Properties by 1.0% during the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust's stock valued at $1,614,469,000 after purchasing an additional 240,853 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Equity LifeStyle Properties by 5.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust's stock valued at $209,630,000 after acquiring an additional 153,715 shares in the last quarter. Boston Partners lifted its stake in Equity LifeStyle Properties by 4.2% in the first quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust's stock worth $183,035,000 after acquiring an additional 113,891 shares during the period. Dimensional Fund Advisors LP grew its holdings in Equity LifeStyle Properties by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust's stock worth $176,250,000 after acquiring an additional 178,258 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Equity LifeStyle Properties by 56.5% during 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. 97.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, COO Patrick Waite sold 20,820 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.52, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Patrick Waite sold 20,820 shares of the stock in a transaction on 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 transaction, the chief operating officer now owns 221,777 shares of the company's stock, valued at approximately $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock valued at $6,348,011 over the last ninety days. Corporate insiders own 1.40% of the company's stock.

Equity LifeStyle Properties Stock Performance

ELS stock traded down $0.27 during midday trading on Tuesday, hitting $72.24. 1,424,479 shares of the stock traded hands, compared to its average volume of 1,212,266. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. The stock's fifty day simple moving average is $70.89 and its 200-day simple moving average is $67.65. The firm has a market cap of $13.80 billion, a P/E ratio of 37.24, a PEG ratio of 3.90 and a beta of 0.79.

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 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 business had revenue of $387.30 million during the quarter, compared to analysts' expectations of $315.78 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Equity LifeStyle Properties's revenue for the quarter was down .4% on a year-over-year basis. On average, analysts expect that Equity LifeStyle Properties, Inc. will post 2.9 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The business 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 dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties's dividend payout ratio is presently 98.45%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company raised Equity LifeStyle Properties from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Compass Point lifted their target price 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. UBS Group raised shares of Equity LifeStyle Properties to a "strong-buy" rating in a research report on Thursday, October 10th. Robert W. Baird raised their price objective 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. Finally, Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a "hold" rating and a $72.00 target price on the stock. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Equity LifeStyle Properties has a consensus rating of "Moderate Buy" and an average target price of $72.50.

About Equity LifeStyle Properties

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.