Prudential PLC Sells 733 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Prudential PLC reduced its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,398 shares of the real estate investment trust’s stock after selling 733 shares during the quarter. Prudential PLC’s holdings in Equity LifeStyle Properties were worth $1,915,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Equity LifeStyle Properties in the 1st quarter valued at approximately $25,000. Rise Advisors LLC bought a new stake in shares of Equity LifeStyle Properties during the first quarter worth $27,000. V Square Quantitative Management LLC bought a new stake in shares of Equity LifeStyle Properties during the second quarter worth $30,000. Blue Trust Inc. raised its holdings in shares of Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 391 shares during the period. Finally, GAMMA Investing LLC lifted its position in Equity LifeStyle Properties by 36.0% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ELS shares. 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. Evercore ISI lifted their target price on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Finally, Truist Financial upped their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.88.

Insiders Place Their Bets

In other Equity LifeStyle Properties 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 sale, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Stock Down 0.6 %

ELS stock opened at $74.87 on Thursday. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 40.91, a P/E/G ratio of 4.26 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $75.39. The business has a 50 day moving average price of $69.38 and a two-hundred day moving average price of $65.61. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34.

Equity LifeStyle Properties (NYSE:ELS) last issued its 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 firm had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. Equity LifeStyle Properties’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a dividend of $0.4775 per share. The ex-dividend date is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.55%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

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.