Paloma Partners Management Co Takes $278,000 Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Paloma Partners Management Co bought a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,900 shares of the real estate investment trust’s stock, valued at approximately $278,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of Equity LifeStyle Properties during the 2nd quarter valued at about $30,000. UMB Bank n.a. raised its position 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. lifted its holdings in Equity LifeStyle Properties by 167.1% in the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 391 shares during the period. GAMMA Investing LLC boosted its position 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 acquired a new stake in shares of Equity LifeStyle Properties during the 2nd quarter worth approximately $54,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity LifeStyle Properties Stock Performance

NYSE ELS opened at $70.21 on Friday. 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 stock’s 50 day simple moving average is $69.99 and its 200-day simple moving average is $68.57. The company has a market cap of $13.41 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 3.70 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last announced 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 firm had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same quarter in the previous year, the business posted $0.71 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a yield of 2.72%. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Compass Point boosted 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. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Evercore ISI raised their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Truist Financial upped their price target on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird raised their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Insider Buying and Selling at Equity LifeStyle Properties

In other 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 of the company’s stock, valued at approximately $11,109,486.29. The trade was a 17.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction 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 represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

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.