Easterly Investment Partners LLC Has $15.28 Million Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Easterly Investment Partners LLC boosted its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 13.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214,233 shares of the real estate investment trust’s stock after purchasing an additional 25,089 shares during the period. Equity LifeStyle Properties comprises approximately 1.2% of Easterly Investment Partners LLC’s investment portfolio, making the stock its 15th biggest position. Easterly Investment Partners LLC owned 0.11% of Equity LifeStyle Properties worth $15,283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ELS. Seven Post Investment Office LP boosted its stake in Equity LifeStyle Properties by 0.7% in the third quarter. Seven Post Investment Office LP now owns 187,454 shares of the real estate investment trust’s stock valued at $13,373,000 after buying an additional 1,359 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Equity LifeStyle Properties by 56.5% in the third quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust’s stock worth $159,232,000 after acquiring an additional 805,681 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Equity LifeStyle Properties by 23.0% in the 3rd quarter. QRG Capital Management Inc. now owns 11,461 shares of the real estate investment trust’s stock valued at $818,000 after purchasing an additional 2,145 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Equity LifeStyle Properties by 12.2% during the 3rd quarter. Van ECK Associates Corp now owns 81,480 shares of the real estate investment trust’s stock valued at $5,752,000 after purchasing an additional 8,849 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in Equity LifeStyle Properties during the 3rd quarter worth approximately $75,000. Institutional investors own 97.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ELS. Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Truist Financial boosted their price objective on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Robert W. Baird increased their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective for the company. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.40.

Insider Buying and Selling at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the sale, 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,808 shares of company stock worth $6,348,011. Corporate insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Stock Up 2.7 %

NYSE:ELS traded up $1.88 on Friday, hitting $71.64. The stock had a trading volume of 145,672 shares, compared to its average volume of 1,204,687. The company has a market cap of $13.69 billion, a PE ratio of 35.95, a P/E/G ratio of 3.79 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’s fifty day moving average is $70.91 and its 200 day moving average is $67.34. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.28). Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The business had revenue of $387.30 million during the quarter, compared to analyst estimates of $315.78 million. During the same period in the previous year, the business posted $0.71 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts expect that Equity LifeStyle Properties, Inc. will post 2.9 EPS 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. Investors of record on Friday, December 27th will be given a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

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.