Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,072 shares of the real estate investment trust’s stock after selling 7,892 shares during the period. Amalgamated Bank owned approximately 0.05% of Equity LifeStyle Properties worth $6,127,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new position in shares of Equity LifeStyle Properties during the first quarter valued at $25,000. Rise Advisors LLC acquired a new position in Equity LifeStyle Properties during the 1st quarter valued at about $27,000. V Square Quantitative Management LLC bought a new stake in shares of Equity LifeStyle Properties during the 2nd quarter worth about $30,000. Blue Trust Inc. lifted its stake in shares of Equity LifeStyle Properties by 167.1% in the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 391 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Equity LifeStyle Properties by 36.0% in the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Insider Activity at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 31,988 shares of the company’s 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 transaction, the chief financial officer now owns 148,463 shares in the company, valued at approximately $11,109,486.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 sale, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the transaction, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,808 shares of company stock valued at $6,348,011. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ELS shares. Truist Financial boosted their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $68.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. 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 report on Monday, September 16th. Finally, Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.50 to $82.00 in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.67.

Equity LifeStyle Properties Price Performance

ELS stock opened at $71.81 on Friday. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $76.60. The firm has a 50-day moving average of $70.95 and a two-hundred day moving average of $66.05. The firm has a market capitalization of $13.39 billion, a PE ratio of 39.24, a P/E/G ratio of 4.32 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34.

Equity LifeStyle Properties (NYSE:ELS) last issued 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 during the quarter, compared to analysts’ expectations of $334.53 million. During the same quarter last year, the company posted $0.66 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, analysts forecast that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share 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. Stockholders of record on Friday, September 27th will be issued a dividend of $0.4775 per share. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.66%. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

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.