Vestcor Inc Increases Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Vestcor Inc increased its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 34.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,609 shares of the real estate investment trust’s stock after purchasing an additional 1,450 shares during the quarter. Vestcor Inc’s holdings in Equity LifeStyle Properties were worth $400,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ELS. Victory Capital Management Inc. lifted its position in shares of Equity LifeStyle Properties by 0.9% during the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock valued at $331,707,000 after buying an additional 39,864 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Equity LifeStyle Properties by 5.0% during 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in Equity LifeStyle Properties by 7.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock valued at $176,250,000 after acquiring an additional 178,258 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Equity LifeStyle Properties by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,441,191 shares of the real estate investment trust’s stock worth $174,155,000 after purchasing an additional 87,609 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Equity LifeStyle Properties by 370.6% during the third quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust’s stock worth $166,182,000 after purchasing an additional 1,834,491 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

ELS has been the subject of several recent analyst reports. Robert W. Baird raised their price target on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Evercore ISI boosted their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 price objective on the stock. Finally, Compass Point raised their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Insider Transactions at Equity LifeStyle Properties

In related news, 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 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. This trade represents a 17.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. This 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 Stock Performance

NYSE ELS opened at $67.92 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 company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market capitalization of $12.98 billion, a P/E ratio of 35.01, a PEG ratio of 3.63 and a beta of 0.77. The stock has a 50-day simple moving average of $69.84 and a two-hundred day simple moving average of $68.81.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The firm had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. Equity LifeStyle Properties’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. On average, equities analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The company 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 of this dividend is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.81%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 98.45%.

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.