Equity LifeStyle Properties, Inc. (NYSE:ELS) Position Boosted by Employees Retirement System of Texas

Employees Retirement System of Texas increased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 57.4% during the second quarter, Holdings Channel reports. The firm owned 96,000 shares of the real estate investment trust’s stock after purchasing an additional 35,000 shares during the period. Employees Retirement System of Texas’ holdings in Equity LifeStyle Properties were worth $6,252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELS. Mather Group LLC. acquired a new position in Equity LifeStyle Properties in the first quarter worth approximately $25,000. Rise Advisors LLC bought a new stake in shares of Equity LifeStyle Properties during the 1st quarter worth $27,000. V Square Quantitative Management LLC acquired a new position in shares of Equity LifeStyle Properties in the 2nd quarter worth $30,000. Blue Trust Inc. raised its position in shares of Equity LifeStyle Properties by 167.1% during the second 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 lifted its holdings in shares of Equity LifeStyle Properties by 36.0% during 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 last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Price Performance

NYSE ELS opened at $71.97 on Thursday. The stock has a market capitalization of $13.42 billion, a PE ratio of 39.33, a P/E/G ratio of 4.22 and a beta of 0.79. The stock has a 50-day simple moving average of $71.23 and a 200 day simple moving average of $66.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. 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 posted its quarterly earnings results 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 company 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 quarter in the prior year, the business earned $0.66 earnings per share. Research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.4775 dividend. This represents a $1.91 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is 104.37%.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the completion of the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following the transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock valued at $6,348,011 over the last quarter. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

ELS has been the subject of several recent analyst reports. Evercore ISI raised their target price on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. 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 stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Truist Financial lifted their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Equity LifeStyle Properties has an average rating of “Hold” and an average price target of $70.67.

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.