Sanctuary Advisors LLC Takes Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Sanctuary Advisors LLC bought a new stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) in the second quarter, HoldingsChannel reports. The institutional investor bought 16,679 shares of the real estate investment trust’s stock, valued at approximately $1,010,000.

A number of other institutional investors have also recently modified their holdings of ELS. PGGM Investments lifted its position 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 valued at $120,067,000 after acquiring an additional 1,804,156 shares during the period. Principal Financial Group Inc. lifted its position in shares of Equity LifeStyle Properties by 55.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock worth $97,357,000 after buying an additional 536,864 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Equity LifeStyle Properties by 4,590.4% during the 1st 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 last quarter. Daiwa Securities Group Inc. lifted its position in shares of Equity LifeStyle Properties by 569.9% during 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 lifted its position in shares of Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock worth $22,321,000 after buying an additional 354,718 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction that occurred on 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 $19,705,886.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,808 shares of company stock worth $6,348,011. Corporate insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Trading Up 0.6 %

Shares of ELS stock opened at $67.79 on Friday. The stock has a market cap of $12.64 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 3.60 and a beta of 0.79. The stock has a 50-day moving average of $71.47 and a 200-day moving average of $66.46. 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, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last announced its 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 business had revenue of $380.00 million for the quarter, compared to the consensus estimate of $334.53 million. During the same quarter in the previous year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.4775 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.91 annualized dividend and a yield of 2.82%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial upped 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. Evercore ISI upped their target price 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Finally, Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.38.

About Equity LifeStyle Properties

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.