Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC decreased its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 87.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,586 shares of the real estate investment trust’s stock after selling 75,923 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Equity LifeStyle Properties were worth $689,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Lighthouse Investment Partners LLC acquired a new stake in Equity LifeStyle Properties during the second quarter valued at approximately $4,885,000. MBB Public Markets I LLC acquired a new stake in shares of Equity LifeStyle Properties during the 2nd quarter valued at $788,000. Employees Retirement System of Texas boosted its stake in shares of Equity LifeStyle Properties by 57.4% during the 2nd quarter. Employees Retirement System of Texas now owns 96,000 shares of the real estate investment trust’s stock worth $6,252,000 after acquiring an additional 35,000 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Equity LifeStyle Properties by 300.1% in the 2nd quarter. APG Asset Management N.V. now owns 21,065 shares of the real estate investment trust’s stock worth $1,280,000 after acquiring an additional 15,800 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Equity LifeStyle Properties by 42.7% during the second quarter. AQR Capital Management LLC now owns 36,177 shares of the real estate investment trust’s stock worth $2,348,000 after purchasing an additional 10,818 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Trading Up 0.3 %

Equity LifeStyle Properties stock opened at $70.76 on Friday. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.34. The stock has a market cap of $13.20 billion, a P/E ratio of 38.67, a P/E/G ratio of 4.22 and a beta of 0.79. The company’s fifty day simple moving average is $71.35 and its 200-day simple moving average is $66.25.

Equity LifeStyle Properties (NYSE:ELS) last issued 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 during the quarter, compared to analysts’ expectations of $334.53 million. During the same quarter last year, the firm earned $0.66 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Investors of record on Friday, September 27th will be given a dividend of $0.4775 per share. This represents a $1.91 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 148,463 shares in the company, valued at approximately $11,109,486.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was 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 approximately $19,705,886.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the company’s 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 sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock worth $6,348,011 over the last ninety days. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ELS. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Evercore ISI lifted 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 research report on Monday, September 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, Truist Financial lifted their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.