Assetmark Inc. Boosts Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Assetmark Inc. raised its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 105.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,279 shares of the real estate investment trust’s stock after purchasing an additional 7,847 shares during the quarter. Assetmark Inc.’s holdings in Equity LifeStyle Properties were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC boosted its stake in shares of Equity LifeStyle Properties by 31.3% in the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 146 shares in the last quarter. Johnson Investment Counsel Inc. increased its holdings in shares of Equity LifeStyle Properties by 0.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock valued at $1,745,000 after purchasing an additional 152 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Equity LifeStyle Properties by 0.9% in the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock valued at $1,106,000 after purchasing an additional 154 shares during the period. LRI Investments LLC boosted its holdings in Equity LifeStyle Properties by 8.7% during the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 171 shares in the last quarter. Finally, Farrow Financial Inc. grew its position in Equity LifeStyle Properties by 1.0% during the second quarter. Farrow Financial Inc. now owns 22,089 shares of the real estate investment trust’s stock worth $1,439,000 after buying an additional 211 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $71.71 on Friday. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 3.84 and a beta of 0.79. 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, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The company’s 50 day simple moving average is $70.87 and its 200 day simple moving average is $67.71.

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 for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The business had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. On average, sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 98.45%.

Insider Activity

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 148,463 shares in the company, valued at approximately $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. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

ELS has been the subject of a number of research reports. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. 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. Evercore ISI lifted 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. Compass Point increased their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They set a “hold” rating and a $72.00 target price for the company. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Equity LifeStyle Properties has a consensus rating of “Moderate Buy” and an average 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.