Paul Seavey Sells 31,988 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) Stock

Equity LifeStyle Properties, Inc. (NYSE:ELS) CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties 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 completion of the transaction, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Equity LifeStyle Properties Stock Down 2.4 %

NYSE ELS opened at $71.81 on Friday. The business has a fifty day moving average price of $70.95 and a 200 day moving average price of $66.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market cap of $13.39 billion, a P/E ratio of 39.24, a P/E/G ratio of 4.32 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The business had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. Equity LifeStyle Properties’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.66 earnings per share. Research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.4775 per share. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, September 27th. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Institutional Investors Weigh In On Equity LifeStyle Properties

Large investors have recently made changes to their positions in the stock. Private Advisor Group LLC purchased a new stake in Equity LifeStyle Properties in the 4th quarter valued at $238,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Equity LifeStyle Properties by 181.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,587 shares of the real estate investment trust’s stock valued at $817,000 after purchasing an additional 7,471 shares during the period. Financial Advocates Investment Management acquired a new stake in Equity LifeStyle Properties during the fourth quarter worth about $219,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in Equity LifeStyle Properties by 4.7% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 177 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Equity LifeStyle Properties by 8.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 18,981 shares of the real estate investment trust’s stock valued at $1,339,000 after purchasing an additional 1,457 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ELS. Evercore ISI raised their target price on Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Truist Financial raised their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.50 to $82.00 in a research note on Thursday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $70.67.

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.