Commerce Bank Trims Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Commerce Bank decreased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 8.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,567 shares of the real estate investment trust’s stock after selling 888 shares during the quarter. Commerce Bank’s holdings in Equity LifeStyle Properties were worth $683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in shares of Equity LifeStyle Properties during the 2nd quarter worth $30,000. UMB Bank n.a. increased its stake in shares of Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 417 shares in the last quarter. Blue Trust Inc. raised its holdings in Equity LifeStyle Properties by 167.1% in the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 391 shares during the period. GAMMA Investing LLC lifted its position in 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 in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Equity LifeStyle Properties during the second quarter valued at about $54,000. 97.21% of the stock is currently owned by institutional investors.

Insider Activity

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 value of $2,393,662.04. Following the sale, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction 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 trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Stock Performance

Shares of NYSE ELS opened at $71.10 on Tuesday. The company has a market cap of $13.58 billion, a P/E ratio of 36.65, a P/E/G ratio of 3.77 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The firm’s fifty day moving average is $70.38 and its two-hundred day moving average is $68.15.

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

Equity LifeStyle Properties Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.477 per share. The ex-dividend date is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.68%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 98.45%.

Wall Street Analysts Forecast Growth

ELS has been the topic of several recent research reports. Compass Point raised their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Robert W. Baird upped 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 report on Tuesday, October 22nd. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Finally, Evercore ISI upped their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties 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.