Mutual of America Capital Management LLC Has $7.19 Million Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Mutual of America Capital Management LLC reduced its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,806 shares of the real estate investment trust’s stock after selling 5,972 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Equity LifeStyle Properties were worth $7,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Equity LifeStyle Properties by 1.0% in the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock valued at $1,614,469,000 after buying an additional 240,853 shares during the period. Victory Capital Management Inc. raised its holdings in 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 valued at $331,707,000 after acquiring an additional 39,864 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Equity LifeStyle Properties by 5.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,218,638 shares of the real estate investment trust’s stock worth $209,630,000 after acquiring an additional 153,715 shares during the period. Boston Partners grew its holdings in shares of Equity LifeStyle Properties by 4.2% during the 1st quarter. Boston Partners now owns 2,842,566 shares of the real estate investment trust’s stock worth $183,035,000 after purchasing an additional 113,891 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Equity LifeStyle Properties by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,706,099 shares of the real estate investment trust’s stock worth $176,250,000 after purchasing an additional 178,258 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ELS shares. Evercore ISI raised their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Compass Point upped their target price 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, 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 report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.50.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. This represents a 17.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. This trade represents 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 owned by corporate insiders.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock opened at $70.99 on Tuesday. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The firm’s 50-day moving average price is $70.81 and its two-hundred day moving average price is $67.88. 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 stock has a market capitalization of $13.56 billion, a price-to-earnings ratio of 36.59, a P/E/G ratio of 3.76 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The business had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. During the same quarter last year, the company earned $0.71 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. On average, equities analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm 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 $0.477 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.69%. Equity LifeStyle Properties’s dividend payout ratio is 98.45%.

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.