Cornercap Investment Counsel Inc. Sells 5,727 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Cornercap Investment Counsel Inc. reduced its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 34.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,011 shares of the real estate investment trust’s stock after selling 5,727 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Equity LifeStyle Properties were worth $786,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ELS. PGGM Investments raised its holdings in shares of Equity LifeStyle Properties by 4,586.1% in the second quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock valued at $120,067,000 after purchasing an additional 1,804,156 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Equity LifeStyle Properties by 56.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust’s stock worth $159,232,000 after buying an additional 805,681 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Equity LifeStyle Properties by 569.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock worth $32,235,000 after buying an additional 421,062 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Equity LifeStyle Properties by 46,368.4% in the first quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after acquiring an additional 354,718 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Equity LifeStyle Properties by 7.8% during the second quarter. Victory Capital Management Inc. now owns 4,609,806 shares of the real estate investment trust’s stock valued at $300,237,000 after acquiring an additional 331,945 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Stock Down 1.2 %

Shares of NYSE ELS opened at $70.89 on Friday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. The company has a market cap of $13.54 billion, a P/E ratio of 36.54, a P/E/G ratio of 3.85 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The business has a 50-day simple moving average of $70.81 and a two-hundred day simple moving average of $67.78.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data 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). The firm had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. Equity LifeStyle Properties’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. Research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a $0.477 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.69%. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. The trade was a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ELS. Evercore ISI upped their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Robert W. Baird boosted their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Truist Financial raised their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.50.

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.