Public Sector Pension Investment Board Purchases 743 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Public Sector Pension Investment Board boosted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,777 shares of the real estate investment trust’s stock after purchasing an additional 743 shares during the quarter. Public Sector Pension Investment Board’s holdings in Equity LifeStyle Properties were worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ELS. Vanguard Group Inc. raised its position in shares of Equity LifeStyle Properties by 1.0% in 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 buying an additional 240,853 shares in the last quarter. 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 worth $300,237,000 after buying an additional 331,945 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Equity LifeStyle Properties by 5.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock worth $209,630,000 after acquiring an additional 153,715 shares during the last quarter. Boston Partners raised its holdings in shares of 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 acquiring an additional 113,891 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Equity LifeStyle Properties by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock valued at $176,250,000 after acquiring an additional 178,258 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock opened at $70.14 on Wednesday. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. The stock has a market capitalization of $13.08 billion, a price-to-earnings ratio of 38.33, a price-to-earnings-growth ratio of 4.22 and a beta of 0.79. The company has a fifty day moving average of $71.42 and a 200-day moving average of $66.28. 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 (NYSE:ELS) last announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (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 business had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $334.53 million. During the same period last year, the company posted $0.66 EPS. Equity LifeStyle Properties’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts expect that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.4775 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.72%. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Insider Activity

In other news, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction on Friday, August 16th. The shares were 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 owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the 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 completion of the sale, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick Waite sold 20,820 shares of the stock in a transaction on Friday, August 16th. The shares were 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. In the last 90 days, insiders sold 85,808 shares of company stock valued at $6,348,011. Corporate insiders own 1.40% of the company’s stock.

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.