Texas Permanent School Fund Corp Sells 23,623 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Texas Permanent School Fund Corp decreased its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 14.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 139,535 shares of the real estate investment trust’s stock after selling 23,623 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.07% of Equity LifeStyle Properties worth $9,088,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ELS. Mather Group LLC. purchased a new stake in Equity LifeStyle Properties in the 1st quarter worth $25,000. Rise Advisors LLC bought a new position in shares of Equity LifeStyle Properties during the 1st quarter valued at about $27,000. V Square Quantitative Management LLC bought a new position in shares of Equity LifeStyle Properties during the 2nd quarter valued at about $30,000. Blue Trust Inc. boosted its holdings in shares of Equity LifeStyle Properties by 167.1% during the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 391 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Equity LifeStyle Properties by 36.0% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial increased their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. 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. Finally, Evercore ISI increased their price target on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $68.88.

Insider Buying and Selling

In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Equity LifeStyle Properties Stock Up 1.5 %

Shares of NYSE:ELS opened at $75.34 on Wednesday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $75.39. The company has a market cap of $14.05 billion, a price-to-earnings ratio of 41.17, a PEG ratio of 4.26 and a beta of 0.79. The company has a 50-day moving average price of $69.38 and a 200 day moving average price of $65.61.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. During the same period last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed 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 a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

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.