United Services Automobile Association Reduces Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

United Services Automobile Association trimmed its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 14.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,588 shares of the real estate investment trust’s stock after selling 2,108 shares during the period. United Services Automobile Association’s holdings in Equity LifeStyle Properties were worth $898,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Equity LifeStyle Properties in the second quarter valued at approximately $30,000. UMB Bank n.a. grew its holdings in shares of Equity LifeStyle Properties by 356.4% during the third quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 417 shares in the last quarter. Blue Trust Inc. increased its stake in Equity LifeStyle Properties by 167.1% in the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 391 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Equity LifeStyle Properties during the 2nd quarter valued at about $54,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Equity LifeStyle Properties in the 3rd quarter valued at $75,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Performance

Shares of Equity LifeStyle Properties stock opened at $69.70 on Monday. The business has a fifty day simple moving average of $69.97 and a two-hundred day simple moving average of $68.67. The firm has a market capitalization of $13.32 billion, a P/E ratio of 35.93, a P/E/G ratio of 3.72 and a beta of 0.77. 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, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate 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 business had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. During the same period in the previous year, the firm earned $0.71 EPS. The company’s revenue was down .4% on a year-over-year basis. On average, equities 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 announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 98.45%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 price objective for the company. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. Truist Financial boosted their price target on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Evercore ISI lifted 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. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.50.

Insider Transactions at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. This trade represents a 11.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties 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.