Amica Mutual Insurance Co. Buys 4,657 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Amica Mutual Insurance Co. boosted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 31.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,310 shares of the real estate investment trust’s stock after acquiring an additional 4,657 shares during the quarter. Amica Mutual Insurance Co.’s holdings in Equity LifeStyle Properties were worth $1,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELS. Wellington Management Group LLP boosted its holdings 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 position in Equity LifeStyle Properties by 2.3% in the 4th 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 during the last quarter. LRI Investments LLC lifted its stake in shares of 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 acquiring 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 4th 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 purchasing an additional 177 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in Equity LifeStyle Properties by 40.5% in the fourth quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 182 shares during the period. 97.21% of the stock is owned by institutional investors.

Equity LifeStyle Properties Stock Down 0.3 %

Shares of Equity LifeStyle Properties stock traded down $0.18 during trading hours on Monday, reaching $70.18. 626,529 shares of the company’s stock were exchanged, compared to its average volume of 1,205,498. The stock has a market cap of $13.09 billion, a P/E ratio of 38.45, a P/E/G ratio of 4.06 and a beta of 0.77. The company has a 50 day moving average of $67.36 and a two-hundred day moving average of $65.12. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $74.04.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.23). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The company had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. During the same period last year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast 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. Shareholders of record on Friday, September 27th will be paid a $0.4775 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.72%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial increased their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI increased 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 research report on Tuesday, July 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.94.

Insider Activity

In other news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $70.23, for a total value of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at $15,575,398.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.

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.