Sumitomo Mitsui Trust Group Inc. Decreases Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 546,295 shares of the real estate investment trust’s stock after selling 33,263 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Equity LifeStyle Properties were worth $38,973,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of 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 in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Equity LifeStyle Properties by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 340,836 shares of the real estate investment trust’s stock worth $21,952,000 after purchasing an additional 12,444 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Equity LifeStyle Properties by 35.3% during the 1st quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock worth $5,106,000 after purchasing an additional 20,697 shares during the last quarter. National Bank of Canada FI grew its position in shares of Equity LifeStyle Properties by 46,368.4% in 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 purchasing an additional 354,718 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Equity LifeStyle Properties by 1.0% in the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock valued at $1,614,469,000 after purchasing an additional 240,853 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Down 1.1 %

Shares of NYSE ELS opened at $70.89 on Friday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $70.81 and its two-hundred day moving average is $67.83. 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 $13.54 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 3.85 and a beta of 0.79.

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 (EPS) 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 firm had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. During the same quarter in the prior year, the firm posted $0.71 EPS. Equity LifeStyle Properties’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS 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 paid a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is 98.45%.

Insider Buying and Selling at Equity LifeStyle Properties

In other news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 260,936 shares in the company, valued at approximately $19,705,886.72. This trade represents a 11.23 % decrease in their ownership of the stock. The sale 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 business’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 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ELS shares. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Compass Point raised their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Truist Financial lifted their target price on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

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.