Public Sector Pension Investment Board Has $1.65 Million Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Public Sector Pension Investment Board boosted its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 30.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,147 shares of the real estate investment trust’s stock after buying an additional 5,370 shares during the period. Public Sector Pension Investment Board’s holdings in Equity LifeStyle Properties were worth $1,651,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Townsquare Capital LLC raised 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 worth $916,000 after acquiring an additional 2,458 shares during the last quarter. GAMMA Investing LLC raised 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 purchasing an additional 217 shares during the last quarter. PGGM Investments lifted its holdings in shares of Equity LifeStyle Properties by 4,586.1% in the second quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock valued at $120,067,000 after purchasing an additional 1,804,156 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Equity LifeStyle Properties by 0.9% during the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock valued at $331,707,000 after buying an additional 39,864 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in Equity LifeStyle Properties by 16.7% during the third quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust’s stock worth $15,210,000 after buying an additional 30,489 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ELS. Wells Fargo & Company upgraded Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.50 to $82.00 in a research note on Thursday, September 19th. Robert W. Baird boosted their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Compass Point increased their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research note on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price on the stock. Finally, Truist Financial increased their price target on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Equity LifeStyle Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were 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 $19,705,886.72. This represents a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 148,463 shares of the company’s stock, valued at approximately $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 Performance

NYSE:ELS opened at $70.21 on Friday. The company has a market capitalization of $13.41 billion, a P/E ratio of 36.19, a P/E/G ratio of 3.70 and a beta of 0.77. The business has a fifty day simple moving average of $69.99 and a two-hundred day simple moving average of $68.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. 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 announced 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 during 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 company’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. On average, analysts expect 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. Investors of record on Friday, December 27th will be issued a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 98.45%.

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.