BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 4,373 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 12.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,577 shares of the real estate investment trust’s stock after selling 4,373 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Equity LifeStyle Properties were worth $2,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vinva Investment Management Ltd bought a new position in shares of Equity LifeStyle Properties in the 3rd quarter valued at about $520,000. Public Sector Pension Investment Board lifted its holdings in shares of Equity LifeStyle Properties by 30.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 23,147 shares of the real estate investment trust’s stock valued at $1,651,000 after acquiring an additional 5,370 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Equity LifeStyle Properties by 592.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,963 shares of the real estate investment trust’s stock valued at $116,068,000 after acquiring an additional 1,391,846 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Equity LifeStyle Properties by 3.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,606 shares of the real estate investment trust’s stock valued at $5,322,000 after acquiring an additional 2,767 shares during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in shares of Equity LifeStyle Properties by 23.7% in the 3rd quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust’s stock valued at $916,000 after acquiring an additional 2,458 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ELS. Robert W. Baird increased their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.50 to $82.00 in a report on Thursday, September 19th. Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective on the stock. Finally, Truist Financial increased their price objective on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

Equity LifeStyle Properties Stock Performance

Shares of NYSE:ELS opened at $70.01 on Thursday. The firm has a market cap of $13.38 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 3.74 and a beta of 0.77. The firm’s 50 day simple moving average is $70.01 and its 200-day simple moving average is $68.56. 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 issued its 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). The company had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. As a group, equities analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Equity LifeStyle Properties Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 98.45%.

Insider Transactions at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total transaction of $2,393,662.04. Following the transaction, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. This trade represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of Equity LifeStyle Properties 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 in the company, valued at approximately $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.