Massachusetts Financial Services Co. MA Has $226.66 Million Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Massachusetts Financial Services Co. MA lessened its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,177,240 shares of the real estate investment trust’s stock after selling 41,398 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Equity LifeStyle Properties were worth $226,664,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. LRI Investments LLC purchased a new position in Equity LifeStyle Properties during the 1st quarter valued at about $122,000. BOKF NA grew its position in Equity LifeStyle Properties by 2.2% during the first quarter. BOKF NA now owns 16,201 shares of the real estate investment trust’s stock valued at $1,025,000 after purchasing an additional 346 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Equity LifeStyle Properties in the 1st quarter valued at approximately $876,000. Tidal Investments LLC lifted its position in Equity LifeStyle Properties by 35.3% in the 1st quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock worth $5,106,000 after buying an additional 20,697 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its stake in shares of Equity LifeStyle Properties by 15.4% during the 1st quarter. iA Global Asset Management Inc. now owns 3,008 shares of the real estate investment trust’s stock valued at $194,000 after buying an additional 402 shares during the period. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Insider Transactions at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the company’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 value of $2,492,160.00. Following the completion of the transaction, 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 transaction 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 that occurred on Tuesday, September 17th. The stock was 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 disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Equity LifeStyle Properties Stock Performance

NYSE:ELS opened at $70.91 on Friday. The firm has a market capitalization of $13.55 billion, a PE ratio of 36.47, a PEG ratio of 3.76 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The firm’s fifty day simple moving average is $70.48 and its 200 day simple moving average is $68.02.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly 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). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The business had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current 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 given a $0.477 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.69%. Equity LifeStyle Properties’s dividend payout ratio is 98.45%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Compass Point increased their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. Truist Financial boosted their price target on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Evercore ISI lifted 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. Finally, Robert W. Baird increased 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. Six 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

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.