PNC Financial Services Group Inc. Has $1.26 Million Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

PNC Financial Services Group Inc. cut its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,722 shares of the real estate investment trust’s stock after selling 498 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Equity LifeStyle Properties were worth $1,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ELS. V Square Quantitative Management LLC bought a new stake in Equity LifeStyle Properties during the second quarter worth $30,000. UMB Bank n.a. raised its stake in shares of 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 worth $38,000 after purchasing an additional 417 shares during the period. Blue Trust Inc. boosted its holdings in shares of 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 buying an additional 391 shares during the last quarter. GAMMA Investing LLC grew 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 valued at $53,000 after buying an additional 217 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Equity LifeStyle Properties during the second quarter worth about $54,000. Institutional investors own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Truist Financial boosted their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.50 to $82.00 in a report on Thursday, September 19th. 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 note on Tuesday, October 22nd. Compass Point upped their price target 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 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 objective for the company. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.50.

Equity LifeStyle Properties Trading Up 1.0 %

Shares of ELS opened at $72.09 on Thursday. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of 36.78, a PEG ratio of 3.78 and a beta of 0.79. The firm has a 50 day moving average price of $70.23 and a 200-day moving average price of $68.27. 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 (NYSE:ELS) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.28). The company had revenue of $387.30 million during 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 firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.65%. Equity LifeStyle Properties’s dividend payout ratio is currently 98.45%.

Insider Buying and Selling at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the stock in a transaction dated Tuesday, September 17th. The shares were 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 directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This represents a 17.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties 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 sale, 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. 1.40% of the stock is currently owned by corporate insiders.

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.