Cerity Partners LLC Purchases 24,727 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Cerity Partners LLC grew its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 43.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 81,540 shares of the real estate investment trust’s stock after buying an additional 24,727 shares during the period. Cerity Partners LLC’s holdings in Equity LifeStyle Properties were worth $5,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ELS. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 217 shares during the last quarter. PGGM Investments boosted its stake in Equity LifeStyle Properties by 4,586.1% during the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock valued at $120,067,000 after purchasing an additional 1,804,156 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Equity LifeStyle Properties by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock worth $331,707,000 after purchasing an additional 39,864 shares in the last quarter. Swedbank AB purchased a new position in shares of Equity LifeStyle Properties in the first quarter worth $21,252,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Equity LifeStyle Properties by 60.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,950 shares of the real estate investment trust’s stock valued at $2,211,000 after purchasing an additional 12,826 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the 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 sale, the chief financial officer now owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Equity LifeStyle Properties Trading Up 1.0 %

Shares of ELS stock opened at $72.09 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. The company has a market cap of $13.77 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 3.78 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The firm has a fifty day moving average price of $70.23 and a 200-day moving average price of $68.27.

Equity LifeStyle Properties (NYSE:ELS) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.28). The company had revenue of $387.30 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. As a group, equities analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio is 98.45%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ELS shares. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 price target for the company. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Robert W. Baird lifted 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, Compass Point increased their price target on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.50.

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.