Easterly Investment Partners LLC Increases Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Easterly Investment Partners LLC increased its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 13.3% during the third quarter, HoldingsChannel.com reports. The firm owned 214,233 shares of the real estate investment trust’s stock after buying an additional 25,089 shares during the period. Equity LifeStyle Properties accounts for 1.2% of Easterly Investment Partners LLC’s portfolio, making the stock its 15th largest position. Easterly Investment Partners LLC’s holdings in Equity LifeStyle Properties were worth $15,283,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ELS. Seven Post Investment Office LP increased its position in shares of Equity LifeStyle Properties by 0.7% during 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 during the period. Principal Financial Group Inc. grew its stake in Equity LifeStyle Properties by 56.5% during the third 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 acquiring an additional 805,681 shares in the last quarter. QRG Capital Management Inc. grew its stake in Equity LifeStyle Properties by 23.0% during the third quarter. QRG Capital Management Inc. now owns 11,461 shares of the real estate investment trust’s stock valued at $818,000 after acquiring an additional 2,145 shares in the last quarter. Van ECK Associates Corp increased its holdings in 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 worth $5,752,000 after acquiring an additional 8,849 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in Equity LifeStyle Properties in the 3rd quarter worth approximately $75,000. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Trading Up 2.7 %

Shares of ELS stock traded up $1.88 on Friday, hitting $71.64. 145,672 shares of the company’s stock traded hands, compared to its average volume of 1,204,687. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 3.79 and a beta of 0.79. The company’s fifty day simple moving average is $70.91 and its 200 day simple moving average is $67.34. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $76.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03.

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). The business had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.71 earnings per share. Equities analysts forecast that Equity LifeStyle Properties, Inc. will post 2.9 EPS for the current 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 paid a $0.477 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.66%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 98.45%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Compass Point boosted their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Robert W. Baird boosted their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price target on the stock. Truist Financial lifted their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI upped their price objective on shares of 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 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 stock. Based on data from MarketBeat.com, Equity LifeStyle Properties currently has a consensus rating of “Moderate Buy” and an average price target of $72.40.

Insider Buying and Selling at Equity LifeStyle Properties

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 shares were sold at an average price of $70.23, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Patrick Waite sold 20,820 shares of the stock in a transaction dated Friday, August 16th. The shares were 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 approximately $15,575,398.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was 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 in the company, valued at $19,705,886.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,808 shares of company stock worth $6,348,011. 1.40% of the stock is currently owned by insiders.

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.