Commonwealth Equity Services LLC Sells 412 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Commonwealth Equity Services LLC lowered its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 9.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,936 shares of the real estate investment trust’s stock after selling 412 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Equity LifeStyle Properties were worth $256,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Equity LifeStyle Properties by 1.0% during the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock worth $1,614,469,000 after acquiring an additional 240,853 shares during the period. Boston Partners boosted its holdings in Equity LifeStyle Properties by 4.2% in the 1st quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock valued at $183,035,000 after purchasing an additional 113,891 shares during the period. Bank of New York Mellon Corp grew its position in Equity LifeStyle Properties by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,853,283 shares of the real estate investment trust’s stock worth $120,704,000 after purchasing an additional 27,773 shares during the last quarter. PGGM Investments increased its holdings in shares of Equity LifeStyle Properties by 4,586.1% during the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after purchasing an additional 1,804,156 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Equity LifeStyle Properties by 55.1% during the first quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock valued at $97,357,000 after buying an additional 536,864 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ELS shares. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI raised their price objective on Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada restated a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, Truist Financial upped their target price on 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Equity LifeStyle Properties presently has a consensus rating of “Hold” and a consensus target price of $70.67.

Insiders Place Their Bets

In other news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction 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 sale, 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 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 transaction, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,808 shares of company stock valued at $6,348,011. 1.40% of the stock is currently owned by corporate insiders.

Equity LifeStyle Properties Trading Down 0.3 %

Shares of Equity LifeStyle Properties stock opened at $72.93 on Wednesday. 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 $13.60 billion, a P/E ratio of 39.85, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. The company has a 50-day simple moving average of $71.17 and a 200 day simple moving average of $66.14. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $334.53 million. During the same period in the previous year, the business posted $0.66 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders 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. The ex-dividend date is Friday, September 27th. This represents a $1.91 annualized dividend and a yield of 2.62%. Equity LifeStyle Properties’s payout ratio is presently 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.