Retirement Systems of Alabama Sells 3,605 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Retirement Systems of Alabama lessened its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,876 shares of the real estate investment trust’s stock after selling 3,605 shares during the period. Retirement Systems of Alabama owned 0.15% of Equity LifeStyle Properties worth $20,608,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in 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 last quarter. Blue Trust Inc. lifted its stake in shares of Equity LifeStyle Properties by 167.1% during the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 391 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Equity LifeStyle Properties by 31.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 146 shares during the period. Acadian Asset Management LLC purchased a new position in Equity LifeStyle Properties in the 2nd quarter valued at approximately $54,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Equity LifeStyle Properties during the 3rd quarter valued at $72,000. Institutional investors own 97.21% of the company’s stock.

Insider Activity at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This trade represents a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction 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 completion of the transaction, the chief executive officer now owns 260,936 shares in the company, 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. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. 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 report on Thursday, September 19th. Compass Point lifted their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. 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 report on Tuesday, October 22nd. Truist Financial boosted their price objective on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI increased 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 research note on Monday, October 21st. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Trading Down 0.7 %

Shares of Equity LifeStyle Properties stock opened at $67.92 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The firm has a market cap of $12.98 billion, a PE ratio of 35.01, a PEG ratio of 3.63 and a beta of 0.77. The company has a 50 day simple moving average of $69.84 and a two-hundred day simple moving average of $68.86.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. During the same period in the prior year, the firm posted $0.71 earnings per share. The business’s revenue was down .4% on a year-over-year basis. Analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share 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 given 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 2.81%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 98.45%.

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.