NFJ Investment Group LLC Trims Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

NFJ Investment Group LLC reduced its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 14.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 44,143 shares of the real estate investment trust’s stock after selling 7,639 shares during the quarter. NFJ Investment Group LLC’s holdings in Equity LifeStyle Properties were worth $3,149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted 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 worth $53,000 after acquiring an additional 217 shares during the last quarter. DNB Asset Management AS lifted its stake in shares of Equity LifeStyle Properties by 13.8% during the 2nd quarter. DNB Asset Management AS now owns 28,155 shares of the real estate investment trust’s stock worth $1,834,000 after purchasing an additional 3,419 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Equity LifeStyle Properties during the second quarter worth $9,429,000. Aurora Investment Managers LLC. boosted its holdings in shares of Equity LifeStyle Properties by 25.7% during the second quarter. Aurora Investment Managers LLC. now owns 38,832 shares of the real estate investment trust’s stock worth $2,529,000 after purchasing an additional 7,940 shares during the last quarter. Finally, Farrow Financial Inc. grew its position in shares of Equity LifeStyle Properties by 1.0% in the second quarter. Farrow Financial Inc. now owns 22,089 shares of the real estate investment trust’s stock valued at $1,439,000 after purchasing an additional 211 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Down 0.9 %

Shares of NYSE ELS opened at $69.73 on Wednesday. The stock has a fifty day moving average price of $70.05 and a 200 day moving average price of $68.55. 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 12-month low of $59.82 and a 12-month high of $76.60. The company has a market cap of $13.32 billion, a P/E ratio of 35.94, a P/E/G ratio of 3.74 and a beta of 0.77.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results 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). The company had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. Equity LifeStyle Properties’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Research 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 paid a dividend of $0.477 per share. The ex-dividend date is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.74%. Equity LifeStyle Properties’s dividend payout ratio is currently 98.45%.

Analyst Upgrades and Downgrades

ELS has been the topic of a number of research analyst reports. Evercore ISI raised their price target on 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. Truist Financial raised their target price on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a “hold” rating and a $72.00 price target for the company. Compass Point lifted their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Six equities research 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.50.

Insider Transactions at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, 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 transaction 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

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.