Atria Investments Inc Cuts Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Atria Investments Inc trimmed its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,004 shares of the real estate investment trust’s stock after selling 627 shares during the quarter. Atria Investments Inc’s holdings in Equity LifeStyle Properties were worth $2,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Equity LifeStyle Properties in the 2nd quarter worth $30,000. UMB Bank n.a. increased its position in shares of Equity LifeStyle Properties by 356.4% during the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 417 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 391 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Equity LifeStyle Properties by 36.0% during the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 217 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Equity LifeStyle Properties in the 2nd quarter worth $54,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on ELS shares. Robert W. Baird lifted their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a “hold” rating and a $72.00 price objective for the company. Truist Financial lifted their price objective on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Company raised 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. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.50.

Equity LifeStyle Properties Trading Down 1.0 %

ELS opened at $71.71 on Friday. The stock has a fifty day moving average price of $70.87 and a 200-day moving average price of $67.71. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm has a market cap of $13.70 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 3.84 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The business had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. As a group, equities research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a $0.477 dividend. The ex-dividend date is Friday, December 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 98.45%.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, CFO Paul Seavey sold 31,988 shares of the business’s 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 transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The trade was a 17.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at $19,705,886.72. This represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

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.