Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Bought by Vert Asset Management LLC

Vert Asset Management LLC lifted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,424 shares of the real estate investment trust’s stock after purchasing an additional 510 shares during the quarter. Equity LifeStyle Properties comprises about 1.8% of Vert Asset Management LLC’s investment portfolio, making the stock its 19th largest position. Vert Asset Management LLC’s holdings in Equity LifeStyle Properties were worth $5,167,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ELS. Centersquare Investment Management LLC grew its position in Equity LifeStyle Properties by 22.9% during the first quarter. Centersquare Investment Management LLC now owns 123,030 shares of the real estate investment trust’s stock worth $7,417,000 after buying an additional 22,900 shares during the period. GAMMA Investing LLC boosted its stake in shares of Equity LifeStyle Properties by 36.0% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 217 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Equity LifeStyle Properties by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock worth $21,952,000 after acquiring an additional 12,444 shares during the period. Tidal Investments LLC increased its stake in Equity LifeStyle Properties by 35.3% in the 1st quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock valued at $5,106,000 after purchasing an additional 20,697 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in Equity LifeStyle Properties by 46,368.4% in the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after purchasing an additional 354,718 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Insider Transactions at Equity LifeStyle Properties

In other news, COO Patrick Waite sold 20,820 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the sale, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock worth $6,348,011 in the last three months. 1.40% of the stock is currently owned by company insiders.

Equity LifeStyle Properties Stock Performance

NYSE ELS opened at $69.94 on Friday. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The business’s 50-day moving average price is $71.30 and its 200 day moving average price is $66.65. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $13.04 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The company 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%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 EPS. On average, research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.4775 per share. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a yield of 2.73%. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ELS. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a report on Thursday. They set a “hold” rating and a $72.00 target price for the company. Truist Financial upped their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Evercore ISI increased their price target on shares of 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. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $71.44.

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.