Advisors Asset Management Inc. Has $572,000 Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Advisors Asset Management Inc. lessened its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 28.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,018 shares of the real estate investment trust’s stock after selling 3,231 shares during the period. Advisors Asset Management Inc.’s holdings in Equity LifeStyle Properties were worth $572,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Equity LifeStyle Properties in the 2nd quarter valued at about $30,000. UMB Bank n.a. increased its holdings in shares of Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 417 shares during the period. Blue Trust Inc. increased its holdings 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 worth $40,000 after buying an additional 391 shares during the last quarter. GAMMA Investing LLC increased its holdings in Equity LifeStyle Properties by 36.0% in the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 217 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Equity LifeStyle Properties in the second quarter worth approximately $54,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Analyst Upgrades and Downgrades

ELS has been the topic of a number of research reports. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.50 to $82.00 in a report on Thursday, September 19th. UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a report on Thursday, October 10th. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price objective on the stock. Truist Financial increased their price objective on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, Evercore ISI upped their target price 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.50.

Insider Activity

In other news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This trade represents a 11.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at $11,109,486.29. The trade was a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Equity LifeStyle Properties Stock Up 1.0 %

ELS opened at $72.09 on Thursday. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $13.77 billion, a price-to-earnings ratio of 37.16, a P/E/G ratio of 3.78 and a beta of 0.79. The business has a 50 day moving average of $70.23 and a 200-day moving average of $68.27.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share 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 the consensus estimate of $315.78 million. During the same period in the prior year, the company posted $0.71 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a $0.477 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.65%. Equity LifeStyle Properties’s dividend payout ratio is 98.45%.

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.