Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Centiva Capital LP

Centiva Capital LP lowered its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 13.3% during the third quarter, HoldingsChannel.com reports. The firm owned 15,225 shares of the real estate investment trust’s stock after selling 2,334 shares during the period. Centiva Capital LP’s holdings in Equity LifeStyle Properties were worth $1,086,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ELS. Daiwa Securities Group Inc. raised its stake in Equity LifeStyle Properties by 370.6% during the third quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust’s stock worth $166,182,000 after purchasing an additional 1,834,491 shares during the period. PGGM Investments raised its stake in Equity LifeStyle Properties by 4,586.1% during the second quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after purchasing an additional 1,804,156 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Equity LifeStyle Properties by 592.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,963 shares of the real estate investment trust’s stock valued at $116,068,000 after acquiring an additional 1,391,846 shares during the period. Principal Financial Group Inc. increased its stake in 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 during the period. Finally, Caprock Group LLC purchased a new stake in Equity LifeStyle Properties during the 3rd quarter worth $54,866,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Up 0.4 %

ELS stock opened at $70.01 on Thursday. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 3.74 and a beta of 0.77. The firm’s 50-day moving average is $70.01 and its two-hundred day moving average is $68.56. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35.

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

Equity LifeStyle Properties Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.73%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 98.45%.

Insiders Place Their Bets

In related news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the chief executive officer now owns 260,936 shares in the company, valued at $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ELS has been the topic of several analyst reports. Evercore ISI lifted their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Robert W. Baird lifted their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, 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. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently 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.