Healthcare of Ontario Pension Plan Trust Fund Sells 52,500 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Healthcare of Ontario Pension Plan Trust Fund lowered its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 65.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,500 shares of the real estate investment trust’s stock after selling 52,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Equity LifeStyle Properties were worth $1,962,000 at the end of the most recent reporting period.

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

Equity LifeStyle Properties Stock Down 1.1 %

Shares of Equity LifeStyle Properties stock opened at $71.33 on Monday. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. The stock has a market capitalization of $13.63 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 3.79 and a beta of 0.79. The company has a 50-day simple moving average of $70.16 and a two-hundred day simple moving average of $68.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS 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 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%. During the same period in the previous year, the business posted $0.71 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently declared 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 2.67%. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, CEO Marguerite M. Nader sold 33,000 shares of the 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 transaction, the chief executive officer now owns 260,936 shares in the company, valued at $19,705,886.72. This represents a 11.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This trade represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ELS. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Truist Financial increased their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Compass Point raised their target price on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird lifted their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.