Procyon Advisors LLC Acquires 278 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Procyon Advisors LLC boosted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,814 shares of the real estate investment trust’s stock after acquiring an additional 278 shares during the quarter. Procyon Advisors LLC’s holdings in Equity LifeStyle Properties were worth $272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mather Group LLC. purchased a new position in shares of Equity LifeStyle Properties in the 1st quarter worth approximately $25,000. Rise Advisors LLC bought a new stake in Equity LifeStyle Properties in the first quarter worth $27,000. V Square Quantitative Management LLC purchased a new position in Equity LifeStyle Properties during the second quarter worth $30,000. UMB Bank n.a. increased its position in Equity LifeStyle Properties by 356.4% during the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 417 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Equity LifeStyle Properties by 167.1% in the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 391 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction 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 $19,705,886.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties 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 completion of the transaction, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock valued at $6,348,011 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Trading Up 1.2 %

ELS opened at $70.01 on Thursday. 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’s fifty day moving average is $71.37 and its two-hundred day moving average is $66.56. The company has a market capitalization of $13.06 billion, a P/E ratio of 38.26, a PEG ratio of 3.60 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last announced 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 net margin of 23.56% and a return on equity of 23.71%. The firm had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. During the same quarter in the prior year, the business posted $0.66 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.4775 per share. This represents a $1.91 annualized dividend and a yield of 2.73%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Truist Financial boosted their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI increased their price target on 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 Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.38.

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.