Equity LifeStyle Properties, Inc. (NYSE:ELS) Position Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 7.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,609,806 shares of the real estate investment trust’s stock after buying an additional 331,945 shares during the quarter. Victory Capital Management Inc.’s holdings in Equity LifeStyle Properties were worth $300,237,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Equity LifeStyle Properties by 1.0% during the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock worth $1,614,469,000 after purchasing an additional 240,853 shares during the last quarter. Norges Bank bought a new position in shares of Equity LifeStyle Properties during the fourth quarter worth about $455,623,000. Boston Partners lifted its position in shares of Equity LifeStyle Properties by 4.2% during the first quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock worth $183,035,000 after purchasing an additional 113,891 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Equity LifeStyle Properties by 17.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,743,596 shares of the real estate investment trust’s stock worth $193,533,000 after purchasing an additional 410,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Equity LifeStyle Properties by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,559,965 shares of the real estate investment trust’s stock worth $180,585,000 after purchasing an additional 9,357 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Insider Activity at Equity LifeStyle Properties

In related news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Stock Performance

ELS opened at $72.33 on Friday. The business’s 50 day moving average is $68.78 and its 200-day moving average is $65.47. The stock has a market cap of $13.49 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 4.19 and a beta of 0.77. 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 twelve month low of $59.82 and a twelve month high of $74.04.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The business had revenue of $380.00 million for the quarter, compared to the consensus estimate of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. On average, analysts predict that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.4775 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Friday, September 27th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is 104.37%.

Analyst Upgrades and Downgrades

ELS has been the topic of a number of recent research reports. Evercore ISI raised their target price on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Truist Financial raised their target price on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Equity LifeStyle Properties has a consensus rating of “Hold” and a consensus price target of $68.88.

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.