Azzad Asset Management Inc. ADV Increases Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Azzad Asset Management Inc. ADV raised its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,320 shares of the real estate investment trust’s stock after acquiring an additional 599 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Equity LifeStyle Properties were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in Equity LifeStyle Properties by 74.6% during the third quarter. GAMMA Investing LLC now owns 1,430 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 611 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Equity LifeStyle Properties by 9.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 49,918 shares of the real estate investment trust’s stock worth $3,561,000 after acquiring an additional 4,500 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Equity LifeStyle Properties by 41.4% in the third quarter. SG Americas Securities LLC now owns 30,637 shares of the real estate investment trust’s stock worth $2,186,000 after purchasing an additional 8,971 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Equity LifeStyle Properties by 42.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the real estate investment trust’s stock valued at $5,210,000 after acquiring an additional 24,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Equity LifeStyle Properties in the 2nd quarter worth $119,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ELS. Evercore ISI lifted their price target on Equity LifeStyle Properties from $73.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Truist Financial increased their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.67.

Equity LifeStyle Properties Price Performance

Equity LifeStyle Properties stock opened at $67.96 on Tuesday. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The company’s 50 day simple moving average is $71.72 and its 200-day simple moving average is $66.42. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 4.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The company had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. During the same quarter last year, the company earned $0.66 EPS. Equity LifeStyle Properties’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current 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 given a $0.4775 dividend. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, September 27th. This represents a $1.91 annualized dividend and a yield of 2.81%. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 148,463 shares in the company, valued at approximately $11,109,486.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock valued at $6,348,011 over the last quarter. 1.40% of the stock is currently owned by insiders.

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.