Axa S.A. Lowers Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Axa S.A. decreased its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 181,970 shares of the real estate investment trust’s stock after selling 380 shares during the period. Axa S.A. owned 0.10% of Equity LifeStyle Properties worth $11,852,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ELS. PGGM Investments lifted its stake in shares of Equity LifeStyle Properties by 4,586.1% during the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after purchasing an additional 1,804,156 shares during the period. Principal Financial Group Inc. increased its stake in Equity LifeStyle Properties by 55.1% in the first quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock valued at $97,357,000 after purchasing an additional 536,864 shares during the last quarter. ProShare Advisors LLC lifted its position in Equity LifeStyle Properties by 4,590.4% during the first quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after buying an additional 450,042 shares during the period. Daiwa Securities Group Inc. boosted its stake in Equity LifeStyle Properties by 569.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock worth $32,235,000 after buying an additional 421,062 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Equity LifeStyle Properties by 46,368.4% in the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after buying an additional 354,718 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ELS. Evercore ISI increased their price objective on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. 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. Wells Fargo & Company raised shares of 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 research note on Thursday, September 19th. Finally, Truist Financial increased their target price 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. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $70.67.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock opened at $70.80 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 cap of $13.20 billion, a PE ratio of 38.69, a P/E/G ratio of 4.22 and a beta of 0.79. The company’s fifty day simple moving average is $71.35 and its 200-day simple moving average is $66.25. 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 issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $334.53 million. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.91 EPS 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. Shareholders of record on Friday, September 27th will be given a $0.4775 dividend. 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 annualized dividend and a yield of 2.70%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Insider Activity

In related 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 sale, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, 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 transaction of $2,393,662.04. Following the sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Insiders have sold 85,808 shares of company stock worth $6,348,011 over the last 90 days. Company 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.