APG Asset Management US Inc. Decreases Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

APG Asset Management US Inc. lowered its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 60.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,707 shares of the real estate investment trust’s stock after selling 200,000 shares during the quarter. APG Asset Management US Inc.’s holdings in Equity LifeStyle Properties were worth $8,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC grew its stake in Equity LifeStyle Properties by 42.7% in the 2nd quarter. AQR Capital Management LLC now owns 36,177 shares of the real estate investment trust’s stock valued at $2,348,000 after acquiring an additional 10,818 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Equity LifeStyle Properties in the second quarter valued at about $119,000. Toronto Dominion Bank grew its position in shares of Equity LifeStyle Properties by 0.9% in the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock valued at $1,106,000 after purchasing an additional 154 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Equity LifeStyle Properties by 60.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,950 shares of the real estate investment trust’s stock worth $2,211,000 after purchasing an additional 12,826 shares in the last quarter. Finally, Masterton Capital Management LP purchased a new position in shares of Equity LifeStyle Properties during the 2nd quarter worth approximately $2,898,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Performance

NYSE ELS opened at $70.99 on Friday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $13.24 billion, a PE ratio of 38.79, a price-to-earnings-growth ratio of 4.22 and a beta of 0.79. The business’s 50-day moving average price is $71.29 and its 200 day moving average price is $66.22. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (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 company had revenue of $380.00 million during the quarter, compared to analyst estimates of $334.53 million. During the same period in the prior year, the business posted $0.66 earnings per share. Equity LifeStyle Properties’s revenue was up 2.7% on a year-over-year basis. On average, research analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed 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 represents a $1.91 dividend on an annualized basis and a dividend yield of 2.69%. 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. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

Insider Buying and Selling

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction 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 $15,575,398.71. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other 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 value 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 $11,109,486.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties 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 transaction, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,808 shares of company stock valued at $6,348,011. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reaffirmed 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. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Truist Financial lifted their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI upped 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 report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.67.

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.