Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 11.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 437,200 shares of the real estate investment trust’s stock after selling 57,000 shares during the period. Renaissance Technologies LLC’s holdings in Equity LifeStyle Properties were worth $28,475,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cim LLC acquired a new stake in shares of Equity LifeStyle Properties in the 4th quarter worth $2,586,000. Centersquare Investment Management LLC lifted its stake in shares of Equity LifeStyle Properties by 22.9% in the first quarter. Centersquare Investment Management LLC now owns 123,030 shares of the real estate investment trust’s stock valued at $7,417,000 after purchasing an additional 22,900 shares during the period. GAMMA Investing LLC lifted its stake in shares of Equity LifeStyle Properties by 36.0% in the second 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 period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Equity LifeStyle Properties by 3.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock valued at $21,952,000 after purchasing an additional 12,444 shares during the period. Finally, UBS Group AG lifted its stake in shares of Equity LifeStyle Properties by 1,029.9% in the fourth quarter. UBS Group AG now owns 243,770 shares of the real estate investment trust’s stock valued at $17,196,000 after purchasing an additional 222,196 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Insider Transactions at Equity LifeStyle Properties

In other news, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the sale, the chief executive officer now directly owns 260,936 shares in the company, valued at $19,705,886.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Marguerite M. Nader sold 33,000 shares of the business’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 directly owns 260,936 shares in the company, valued at $19,705,886.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 85,808 shares of company stock worth $6,348,011 over the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Equity LifeStyle Properties Stock Performance

NYSE:ELS opened at $73.54 on Friday. The company has a market capitalization of $13.71 billion, a P/E ratio of 40.19, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $70.84 and a two-hundred day moving average price of $66.02.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The firm had revenue of $380.00 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, research analysts expect that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.4775 per share. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.60%. Equity LifeStyle Properties’s payout ratio is 104.37%.

Equity LifeStyle Properties 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.