Healthcare of Ontario Pension Plan Trust Fund Reduces Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 65.6% during the third quarter, HoldingsChannel reports. The firm owned 27,500 shares of the real estate investment trust’s stock after selling 52,500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Equity LifeStyle Properties were worth $1,962,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. raised its position in Equity LifeStyle Properties by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock worth $331,707,000 after purchasing an additional 39,864 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Equity LifeStyle Properties by 5.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock worth $209,630,000 after acquiring an additional 153,715 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Equity LifeStyle Properties by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock valued at $176,250,000 after acquiring an additional 178,258 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Equity LifeStyle Properties by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,441,191 shares of the real estate investment trust’s stock worth $174,155,000 after purchasing an additional 87,609 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of Equity LifeStyle Properties by 370.6% during the third quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust’s stock worth $166,182,000 after purchasing an additional 1,834,491 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on ELS. Robert W. Baird raised their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Compass Point raised their target price on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Truist Financial boosted their price target on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Evercore ISI upped their price objective on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Six 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, the company has an average rating of “Moderate Buy” and a consensus target price of $72.50.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock opened at $71.33 on Monday. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. The business’s fifty day simple moving average is $70.16 and its 200-day simple moving average is $68.46. 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 cap of $13.63 billion, a PE ratio of 36.77, a PEG ratio of 3.79 and a beta of 0.79.

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

Equity LifeStyle Properties Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.67%. Equity LifeStyle Properties’s payout ratio is 98.45%.

Insiders Place Their Bets

In other news, 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 value of $2,393,662.04. Following the completion of the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. This trade represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Company 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.