New York State Teachers Retirement System Has $9.56 Million Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

New York State Teachers Retirement System trimmed its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,068 shares of the real estate investment trust’s stock after selling 700 shares during the period. New York State Teachers Retirement System owned 0.07% of Equity LifeStyle Properties worth $9,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ELS. PGGM Investments raised its stake in shares of Equity LifeStyle Properties by 4,586.1% during the second quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after buying an additional 1,804,156 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of 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 last quarter. Daiwa Securities Group Inc. raised its stake in shares of Equity LifeStyle Properties by 569.9% during the second 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. National Bank of Canada FI raised its stake in shares of Equity LifeStyle Properties by 46,368.4% during the first 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. Finally, Victory Capital Management Inc. raised its stake in shares of Equity LifeStyle Properties by 7.8% during the second quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock worth $300,237,000 after buying an additional 331,945 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Patrick Waite sold 20,820 shares of the 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 completion of 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 document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 transaction of $2,393,662.04. Following the completion of the transaction, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,808 shares of company stock worth $6,348,011. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ELS shares. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI upped their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Robert W. Baird upped their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. 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. Finally, Compass Point upped their target price on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Moderate Buy” and an average price target of $72.40.

Equity LifeStyle Properties Stock Down 1.1 %

Equity LifeStyle Properties stock opened at $69.32 on Monday. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The company has a 50 day moving average of $71.03 and a 200-day moving average of $67.17. The stock has a market capitalization of $13.24 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 3.83 and a beta of 0.79. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last announced its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The business had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. During the same quarter in the previous year, the company posted $0.71 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.9 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is 98.45%.

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.