Thrivent Financial for Lutherans Reduces Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Thrivent Financial for Lutherans reduced its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 47.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,061 shares of the real estate investment trust’s stock after selling 40,233 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Equity LifeStyle Properties were worth $2,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Equity LifeStyle Properties by 1.0% during the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock valued at $1,614,469,000 after buying an additional 240,853 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Equity LifeStyle Properties by 7.8% in the 2nd quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock worth $300,237,000 after purchasing an additional 331,945 shares during the period. 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 purchasing an additional 153,715 shares in the last quarter. Boston Partners grew its holdings in Equity LifeStyle Properties by 4.2% during the first quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock valued at $183,035,000 after purchasing an additional 113,891 shares during the period. Finally, Dimensional Fund Advisors LP increased its position 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 worth $176,250,000 after buying an additional 178,258 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Trading Down 0.3 %

Shares of Equity LifeStyle Properties stock opened at $70.76 on Monday. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $71.35 and a 200-day moving average price of $66.24. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 4.22 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $380.00 million during the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. Equities research 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 disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.4775 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI increased their price objective on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Truist Financial lifted their target price on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.67.

Insider Transactions at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Marguerite M. Nader sold 33,000 shares of the 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 sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the sale, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. 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. Insiders own 1.40% of the company’s stock.

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.