State of Michigan Retirement System Sells 900 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

State of Michigan Retirement System reduced its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,900 shares of the real estate investment trust’s stock after selling 900 shares during the quarter. State of Michigan Retirement System’s holdings in Equity LifeStyle Properties were worth $2,924,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Wellington Management Group LLP raised its position in shares of Equity LifeStyle Properties by 0.3% in the 4th quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock worth $4,224,000 after acquiring an additional 155 shares in the last quarter. Donoghue Forlines LLC raised its holdings in Equity LifeStyle Properties by 2.3% in the fourth quarter. Donoghue Forlines LLC now owns 7,195 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 160 shares in the last quarter. LRI Investments LLC lifted its position in Equity LifeStyle Properties by 8.7% during 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 period. BI Asset Management Fondsmaeglerselskab A S lifted its position in Equity LifeStyle Properties by 4.7% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 177 shares during the period. Finally, Naviter Wealth LLC boosted its holdings in shares of Equity LifeStyle Properties by 1.6% during the 1st quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock valued at $805,000 after buying an additional 192 shares in the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Equity LifeStyle Properties

In related news, COO Patrick Waite sold 20,820 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the transaction, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Trading Up 0.3 %

Shares of NYSE ELS opened at $70.36 on Wednesday. The firm’s 50 day moving average price is $67.66 and its 200-day moving average price is $65.17. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $74.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market cap of $13.12 billion, a PE ratio of 38.45, a P/E/G ratio of 4.06 and a beta of 0.77.

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

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.4775 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ELS. Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Evercore ISI upped their price objective on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an “in-line” rating in a report on Tuesday, July 23rd. Finally, Truist Financial lifted their target price on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $68.94.

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.