RB Capital Management LLC Reduces Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

RB Capital Management LLC decreased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 6.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,937 shares of the real estate investment trust’s stock after selling 496 shares during the quarter. RB Capital Management LLC’s holdings in Equity LifeStyle Properties were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ELS. Moran Wealth Management LLC boosted its holdings in shares of Equity LifeStyle Properties by 0.8% during the 3rd quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust’s stock valued at $1,264,000 after purchasing an additional 143 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in Equity LifeStyle Properties by 31.3% during the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 146 shares during the period. Johnson Investment Counsel Inc. raised its position in shares of Equity LifeStyle Properties by 0.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock worth $1,745,000 after acquiring an additional 152 shares in the last quarter. Toronto Dominion Bank grew its holdings in Equity LifeStyle Properties by 0.9% in the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock worth $1,106,000 after purchasing an additional 154 shares during the last quarter. Finally, LRI Investments LLC raised its stake in Equity LifeStyle Properties by 8.7% in the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 171 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Performance

ELS opened at $70.11 on Tuesday. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The stock has a market cap of $13.39 billion, a P/E ratio of 36.14, a P/E/G ratio of 3.70 and a beta of 0.77. The stock’s 50 day simple moving average is $69.94 and its 200 day simple moving average is $68.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.28). The firm had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. As a group, equities 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 announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

Insider Buying and Selling at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 148,463 shares in the company, 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 is accessible through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was 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 owns 260,936 shares in the company, valued at $19,705,886.72. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ELS. Compass Point raised their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective for the company. UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Evercore ISI upped their price objective 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. Finally, Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Equity LifeStyle Properties has a consensus 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.