Point72 Asia Singapore Pte. Ltd. Invests $119,000 in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Point72 Asia Singapore Pte. Ltd. bought a new position in Equity LifeStyle Properties, Inc. (NYSE:ELS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,824 shares of the real estate investment trust’s stock, valued at approximately $119,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Equity LifeStyle Properties by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock valued at $1,614,469,000 after buying an additional 240,853 shares during the period. Victory Capital Management Inc. grew its position in Equity LifeStyle Properties by 7.8% during the second quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock valued at $300,237,000 after acquiring an additional 331,945 shares during the period. Massachusetts Financial Services Co. MA grew its position in Equity LifeStyle Properties by 5.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock valued at $209,630,000 after acquiring an additional 153,715 shares during the period. Boston Partners increased its stake in Equity LifeStyle Properties by 4.2% during the first quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock worth $183,035,000 after acquiring an additional 113,891 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Equity LifeStyle Properties by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock worth $176,250,000 after purchasing an additional 178,258 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock opened at $70.76 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The company’s fifty day moving average price is $71.35 and its two-hundred day moving average price is $66.25. The firm has a market capitalization 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. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 EPS 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 business had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. During the same quarter last year, the firm posted $0.66 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share 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 paid a $0.4775 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.70%. 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%.

Analyst Ratings Changes

A number of research firms recently issued reports on ELS. Wells Fargo & Company raised 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. Evercore ISI raised their target price 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, September 16th. Truist Financial lifted their target price on shares of 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 target on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $70.67.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Marguerite M. Nader sold 33,000 shares of the 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 transaction, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction dated 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 quarter, insiders sold 85,808 shares of company stock worth $6,348,011. Insiders own 1.40% of the company’s stock.

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.