Equity LifeStyle Properties, Inc. (NYSE:ELS) Stock Position Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 34.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 177,700 shares of the real estate investment trust’s stock after selling 93,020 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.10% of Equity LifeStyle Properties worth $11,574,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. AGF Management Ltd. lifted its position in Equity LifeStyle Properties by 10.9% in the 2nd quarter. AGF Management Ltd. now owns 38,110 shares of the real estate investment trust’s stock valued at $2,482,000 after purchasing an additional 3,748 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Equity LifeStyle Properties by 569.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock valued at $32,235,000 after buying an additional 421,062 shares during the period. Andra AP fonden increased its stake in Equity LifeStyle Properties by 10.6% during the 2nd quarter. Andra AP fonden now owns 277,300 shares of the real estate investment trust’s stock valued at $18,061,000 after buying an additional 26,500 shares during the period. Royal London Asset Management Ltd. increased its stake in Equity LifeStyle Properties by 5.4% during the 2nd quarter. Royal London Asset Management Ltd. now owns 100,428 shares of the real estate investment trust’s stock valued at $6,541,000 after buying an additional 5,176 shares during the period. Finally, United Services Automobile Association increased its stake in Equity LifeStyle Properties by 3.4% during the 2nd quarter. United Services Automobile Association now owns 14,696 shares of the real estate investment trust’s stock valued at $957,000 after buying an additional 486 shares during the period. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $76.25 on Friday. The firm’s 50 day moving average is $69.84 and its 200-day moving average is $65.74. The stock has a market capitalization of $14.22 billion, a P/E ratio of 41.67, a P/E/G ratio of 4.32 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.47.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.23). The business had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. Equities research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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. This represents a $1.91 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ELS shares. Truist Financial raised their target price on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI raised their target price on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.88.

Insider Transactions at Equity LifeStyle Properties

In other news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at $15,575,398.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by insiders.

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.