Lecap Asset Management Ltd. Has $621,000 Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Lecap Asset Management Ltd. reduced its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 67.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,706 shares of the real estate investment trust’s stock after selling 17,918 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Equity LifeStyle Properties were worth $621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. V Square Quantitative Management LLC grew its position in Equity LifeStyle Properties by 31.3% in the third quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 146 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Equity LifeStyle Properties by 0.6% in the second quarter. Johnson Investment Counsel Inc. now owns 26,792 shares of the real estate investment trust’s stock valued at $1,745,000 after acquiring an additional 152 shares during the last quarter. Toronto Dominion Bank raised its holdings in Equity LifeStyle Properties by 0.9% during the second quarter. Toronto Dominion Bank now owns 16,974 shares of the real estate investment trust’s stock worth $1,106,000 after acquiring an additional 154 shares in the last quarter. Wellington Management Group LLP boosted its position in Equity LifeStyle Properties by 0.3% during the fourth quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock valued at $4,224,000 after purchasing an additional 155 shares during the last quarter. Finally, LRI Investments LLC grew its stake in Equity LifeStyle Properties by 8.7% in the second quarter. LRI Investments LLC now owns 2,132 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 171 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ELS has been the topic of a number of analyst reports. Evercore ISI upped their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday. 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 for the company. Robert W. Baird upped their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday. Truist Financial raised their target price on shares of 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 raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $72.40.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $69.99 on Friday. The firm has a market cap of $13.05 billion, a P/E ratio of 38.25, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The business’s 50 day moving average is $71.16 and its 200-day moving average is $66.83. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60.

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). The firm had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. Equities research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.4775 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.73%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Insiders Place Their Bets

In other news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties 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 completion of the sale, the chief operating officer now directly owns 221,777 shares in the company, valued at approximately $15,575,398.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 value of $2,393,662.04. Following the transaction, the chief financial officer now owns 148,463 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible 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 sale, the chief operating officer now directly owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock worth $6,348,011 in the last quarter. 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.