Commerce Bank Reduces Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Commerce Bank lessened its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,567 shares of the real estate investment trust’s stock after selling 888 shares during the period. Commerce Bank’s holdings in Equity LifeStyle Properties were worth $683,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in shares of Equity LifeStyle Properties during the second quarter valued at approximately $30,000. UMB Bank n.a. increased its position in Equity LifeStyle Properties by 356.4% during the 3rd 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 period. Blue Trust Inc. raised its holdings in Equity LifeStyle Properties by 167.1% in the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 391 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Equity LifeStyle Properties by 36.0% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 217 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Equity LifeStyle Properties during the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Trading Up 0.2 %

Shares of NYSE ELS opened at $71.10 on Tuesday. The firm’s 50 day moving average price is $70.38 and its 200-day moving average price is $68.15. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market cap of $13.58 billion, a PE ratio of 36.65, a P/E/G ratio of 3.77 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data 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). The business had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. On average, equities research analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 98.45%.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, CEO Marguerite M. Nader sold 33,000 shares of the business’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 transaction of $2,492,160.00. Following the completion of the transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ELS. Truist Financial lifted their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Compass Point raised their price objective on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Robert W. Baird upped their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI lifted their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average 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.