American Assets Capital Advisers LLC Sells 4,100 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

American Assets Capital Advisers LLC trimmed its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,755 shares of the real estate investment trust’s stock after selling 4,100 shares during the quarter. Equity LifeStyle Properties comprises about 1.1% of American Assets Capital Advisers LLC’s holdings, making the stock its 25th largest position. American Assets Capital Advisers LLC’s holdings in Equity LifeStyle Properties were worth $3,478,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. PGGM Investments lifted its holdings in shares of Equity LifeStyle Properties by 4,586.1% during the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock worth $120,067,000 after acquiring an additional 1,804,156 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of 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 valued at $159,232,000 after purchasing an additional 805,681 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Equity LifeStyle Properties by 4,590.4% during the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock valued at $29,614,000 after buying an additional 450,042 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Equity LifeStyle Properties by 569.9% in the second quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock worth $32,235,000 after buying an additional 421,062 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Equity LifeStyle Properties by 46,368.4% during the first quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock valued at $22,321,000 after acquiring an additional 354,718 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the company’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 transaction of $1,462,188.60. Following the transaction, the chief operating officer now owns 221,777 shares in the company, valued at approximately $15,575,398.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equity LifeStyle Properties news, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.83, for a total transaction 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 approximately $11,109,486.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $70.23, for a total transaction of $1,462,188.60. Following the completion of the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock worth $6,348,011 over the last three months. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Trading Up 0.1 %

NYSE ELS traded up $0.09 on Tuesday, hitting $72.60. The company’s stock had a trading volume of 272,516 shares, compared to its average volume of 1,207,004. 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 52-week low of $59.82 and a 52-week high of $76.60. The firm has a market cap of $13.87 billion, a P/E ratio of 37.38, a PEG ratio of 3.90 and a beta of 0.79. The company’s 50-day simple moving average is $70.88 and its 200 day simple moving average is $67.56.

Equity LifeStyle Properties (NYSE:ELS) last announced 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 business had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same period in the previous year, the business earned $0.71 EPS. The business’s revenue was down .4% compared to the same quarter last year. Research analysts predict 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 paid a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is currently 98.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ELS shares. UBS Group upgraded shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Evercore ISI boosted 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. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They set a “hold” rating and a $72.00 price objective on the stock. Truist Financial boosted their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Six investment 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.40.

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.