Point72 Asset Management L.P. Sells 51,747 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Point72 Asset Management L.P. decreased its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 20.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 200,000 shares of the real estate investment trust’s stock after selling 51,747 shares during the period. Point72 Asset Management L.P.’s holdings in Equity LifeStyle Properties were worth $14,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Equity LifeStyle Properties in the second quarter valued at about $30,000. UMB Bank n.a. increased its holdings in shares of Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 417 shares during the last quarter. Blue Trust Inc. raised its position in Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 391 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Equity LifeStyle Properties by 36.0% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 217 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Equity LifeStyle Properties in the 2nd quarter valued at about $54,000. 97.21% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction dated 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 sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The trade was a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the transaction, the chief executive officer now directly owns 260,936 shares in the company, valued at $19,705,886.72. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Trading Down 0.8 %

Shares of ELS stock opened at $69.70 on Friday. The stock has a market capitalization of $13.32 billion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 3.70 and a beta of 0.77. The company has a 50 day moving average price of $69.97 and a 200 day moving average price of $68.61. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two 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.

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). 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 during the quarter, compared to analyst estimates of $315.78 million. During the same quarter in the prior year, the company earned $0.71 EPS. The business’s revenue was down .4% on a year-over-year basis. Equities research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS 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. Stockholders of record on Friday, December 27th will be given a $0.477 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.74%. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

Analysts Set New Price Targets

Several research firms recently commented on ELS. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.50 to $82.00 in a research note on Thursday, September 19th. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Robert W. Baird increased their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Truist Financial lifted their price target on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price for the company. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.