Citigroup Inc. Acquires 30,489 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Citigroup Inc. increased its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 16.7% during the third quarter, HoldingsChannel.com reports. The fund owned 213,209 shares of the real estate investment trust’s stock after buying an additional 30,489 shares during the quarter. Citigroup Inc.’s holdings in Equity LifeStyle Properties were worth $15,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Moran Wealth Management LLC lifted its holdings in Equity LifeStyle Properties by 0.8% during the third quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust’s stock worth $1,264,000 after acquiring an additional 143 shares during the period. V Square Quantitative Management LLC lifted its holdings in Equity LifeStyle Properties by 31.3% during the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 146 shares during the period. Johnson Investment Counsel Inc. lifted its holdings in Equity LifeStyle Properties by 0.6% during the second quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock worth $1,745,000 after acquiring an additional 152 shares during the period. Toronto Dominion Bank lifted its holdings in Equity LifeStyle Properties by 0.9% during the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock worth $1,106,000 after acquiring an additional 154 shares during the period. Finally, LRI Investments LLC increased its position in Equity LifeStyle Properties by 8.7% in the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 171 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Price Performance

Equity LifeStyle Properties stock opened at $72.09 on Thursday. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The business has a 50-day simple moving average of $70.23 and a 200 day simple moving average of $68.27. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 3.78 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its 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). 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 for the quarter, compared to analysts’ expectations of $315.78 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Equity LifeStyle Properties’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors 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 yield of 2.65%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is 98.45%.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties 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 $11,109,486.29. The trade was a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction dated Monday, September 16th. The stock was 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 directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ELS. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price for the company. Truist Financial raised their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Evercore ISI raised their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Finally, Compass Point raised their target price 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. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.