Amalgamated Bank Sells 5,270 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Amalgamated Bank reduced its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 5.6% in the third quarter, Holdings Channel.com reports. The fund owned 88,802 shares of the real estate investment trust’s stock after selling 5,270 shares during the period. Amalgamated Bank’s holdings in Equity LifeStyle Properties were worth $6,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in Equity LifeStyle Properties in the 2nd quarter worth about $30,000. UMB Bank n.a. grew its stake in Equity LifeStyle Properties by 356.4% during the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 417 shares in the last quarter. Blue Trust Inc. increased its holdings in Equity LifeStyle Properties by 167.1% during the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 391 shares during the period. GAMMA Investing LLC lifted its stake 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 purchasing an additional 217 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Equity LifeStyle Properties during the 2nd quarter valued at $54,000. 97.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ELS shares. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Evercore ISI raised their target price on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Truist Financial raised their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. 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, Compass Point raised their price target 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. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.40.

Equity LifeStyle Properties Stock Down 2.0 %

ELS opened at $68.69 on Thursday. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $70.95 and its 200-day moving average price is $67.32. The company has a market cap of $13.12 billion, a P/E ratio of 35.41, a P/E/G ratio of 3.79 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 for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The company had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $315.78 million. During the same period last year, the company posted $0.71 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts expect that Equity LifeStyle Properties, Inc. will post 2.9 EPS for the current 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. This represents a $1.91 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 98.45%.

Insider Transactions at Equity LifeStyle Properties

In other 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 value of $2,393,662.04. Following the sale, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the transaction, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,808 shares of company stock worth $6,348,011. Company insiders own 1.40% of the company’s stock.

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.