Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Bought by Assetmark Inc.

Assetmark Inc. grew its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 105.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,279 shares of the real estate investment trust’s stock after purchasing an additional 7,847 shares during the period. Assetmark Inc.’s holdings in Equity LifeStyle Properties were worth $1,090,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Centersquare Investment Management LLC increased its holdings in Equity LifeStyle Properties by 22.9% in the 1st quarter. Centersquare Investment Management LLC now owns 123,030 shares of the real estate investment trust’s stock valued at $7,417,000 after purchasing an additional 22,900 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Equity LifeStyle Properties by 36.0% in the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 217 shares in the last quarter. CANADA LIFE ASSURANCE Co raised 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 valued at $21,952,000 after buying an additional 12,444 shares during the period. Tidal Investments LLC lifted its stake in Equity LifeStyle Properties by 35.3% during the 1st quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock worth $5,106,000 after acquiring an additional 20,697 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in Equity LifeStyle Properties by 46,368.4% during 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 acquiring an additional 354,718 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Down 1.0 %

Shares of NYSE:ELS opened at $71.71 on Friday. The firm has a 50 day simple moving average of $70.87 and a 200-day simple moving average of $67.71. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $13.70 billion, a PE ratio of 36.96, a P/E/G ratio of 3.84 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). The company had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. Equity LifeStyle Properties’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, equities analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 98.45%.

Insider Activity

In other news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction dated 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. This represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the business’s 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 in the company, valued at $11,109,486.29. This trade represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

ELS has been the subject of a number of research reports. Compass Point lifted their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Evercore ISI increased their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Truist Financial boosted their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Equity LifeStyle Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

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.