Intech Investment Management LLC Sells 8,654 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Intech Investment Management LLC cut its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 38.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,985 shares of the real estate investment trust’s stock after selling 8,654 shares during the period. Intech Investment Management LLC’s holdings in Equity LifeStyle Properties were worth $998,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. raised its holdings in shares of Equity LifeStyle Properties by 15.4% during the 1st quarter. iA Global Asset Management Inc. now owns 3,008 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 402 shares in the last quarter. Walleye Trading LLC bought a new position in shares of Equity LifeStyle Properties in the first quarter worth about $390,000. LRI Investments LLC acquired a new stake in shares of Equity LifeStyle Properties in the 1st quarter valued at approximately $122,000. Swedbank AB bought a new stake in shares of Equity LifeStyle Properties during the 1st quarter valued at approximately $21,252,000. Finally, Atria Investments Inc increased its position in Equity LifeStyle Properties by 7.0% during the 1st quarter. Atria Investments Inc now owns 30,109 shares of the real estate investment trust’s stock worth $1,939,000 after purchasing an additional 1,974 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Compass Point boosted their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company upgraded 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. UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Evercore ISI raised their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Equity LifeStyle Properties presently has an average rating of “Moderate Buy” and a consensus target price of $72.50.

Insider Activity

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the company’s stock in a transaction dated 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. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $72.09 on Thursday. The company has a market capitalization of $13.77 billion, a PE ratio of 37.16, a P/E/G ratio of 3.78 and a beta of 0.79. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The firm has a fifty day simple moving average of $70.23 and a 200 day simple moving average of $68.27.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data 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 return on equity of 24.10% and a net margin of 23.97%. The business had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. During the same period last year, the business posted $0.71 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, sell-side analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 EPS 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. Stockholders of record on Friday, December 27th will be given a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 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.