Paul Seavey Sells 31,988 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) Stock

Equity LifeStyle Properties, Inc. (NYSE:ELS) CFO Paul Seavey sold 31,988 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $11,109,486.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Equity LifeStyle Properties Stock Performance

Equity LifeStyle Properties stock opened at $71.81 on Friday. The stock has a market cap of $13.39 billion, a P/E ratio of 39.24, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $70.95 and a 200-day moving average of $66.05. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.23). The firm had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. On average, analysts expect that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.4775 per share. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, September 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several institutional investors and hedge funds have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Equity LifeStyle Properties by 42.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the real estate investment trust’s stock valued at $5,210,000 after acquiring an additional 24,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Equity LifeStyle Properties in the second quarter worth $119,000. Cim LLC increased its position in Equity LifeStyle Properties by 7.2% in the second quarter. Cim LLC now owns 41,573 shares of the real estate investment trust’s stock worth $3,007,000 after buying an additional 2,779 shares during the period. Sanctuary Advisors LLC acquired a new stake in Equity LifeStyle Properties in the second quarter worth $1,010,000. Finally, Point72 Asset Management L.P. increased its position in Equity LifeStyle Properties by 744.8% in the second quarter. Point72 Asset Management L.P. now owns 251,747 shares of the real estate investment trust’s stock worth $16,396,000 after buying an additional 221,947 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ELS shares. Evercore ISI upped their price target on Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Truist Financial upped their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.50 to $82.00 in a report on Thursday. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $70.67.

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.