Acadian Asset Management LLC Invests $54,000 in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Acadian Asset Management LLC bought a new position in Equity LifeStyle Properties, Inc. (NYSE:ELS) during the second quarter, Holdings Channel reports. The firm bought 838 shares of the real estate investment trust’s stock, valued at approximately $54,000.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ELS shares. 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. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.50 to $82.00 in a report on Thursday. Truist Financial upped their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Evercore ISI upped their price target on Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Equity LifeStyle Properties currently has a consensus rating of “Hold” and an average target price of $70.67.

Insider Activity at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now 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 through the SEC website. In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the stock in a transaction that occurred 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 owns 148,463 shares of the company’s stock, valued at $11,109,486.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,808 shares of company stock valued at $6,348,011. 1.40% of the stock is currently owned by insiders.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock opened at $71.81 on Friday. The business has a 50 day simple moving average of $70.95 and a two-hundred day simple moving average of $66.05. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The stock has a market capitalization of $13.39 billion, a P/E ratio of 39.24, a PEG 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 (NYSE:ELS) last announced its 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). 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 for the quarter, compared to analyst estimates of $334.53 million. During the same period in the previous year, the company earned $0.66 EPS. Equity LifeStyle Properties’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.4775 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

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.