Paul Seavey Sells 31,988 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) Stock

Equity LifeStyle Properties, Inc. (NYSE:ELS) CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $11,109,486.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Equity LifeStyle Properties Stock Performance

Shares of NYSE ELS traded up $0.05 during mid-day trading on Thursday, hitting $73.54. The stock had a trading volume of 1,374,548 shares, compared to its average volume of 1,180,788. The firm has a market cap of $13.71 billion, a PE ratio of 40.16, a PEG ratio of 4.32 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The company has a 50 day moving average of $70.70 and a two-hundred day moving average of $65.97. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60.

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 for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The firm had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. During the same period in the prior year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued 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 2.60%. The ex-dividend date of this dividend is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ELS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Equity LifeStyle Properties in the second quarter valued at $119,000. Cim LLC raised its stake in shares of Equity LifeStyle Properties by 7.2% during the 2nd quarter. Cim LLC now owns 41,573 shares of the real estate investment trust’s stock valued at $3,007,000 after buying an additional 2,779 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Equity LifeStyle Properties in the 2nd quarter valued at about $1,010,000. Point72 Asset Management L.P. boosted its stake in shares of Equity LifeStyle Properties by 744.8% in the second quarter. Point72 Asset Management L.P. now owns 251,747 shares of the real estate investment trust’s stock worth $16,396,000 after buying an additional 221,947 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in Equity LifeStyle Properties during the second quarter valued at approximately $4,885,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday. Truist Financial lifted their price target on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Finally, Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.50 to $82.00 in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $70.67.

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.