Insider Selling: Equity LifeStyle Properties, Inc. (NYSE:ELS) CFO Sells $2,393,662.04 in Stock

Equity LifeStyle Properties, Inc. (NYSE:ELS) CFO Paul Seavey sold 31,988 shares of the business’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 completion of the sale, the chief financial officer now owns 148,463 shares in the company, valued at $11,109,486.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Equity LifeStyle Properties Trading Down 2.4 %

Shares of ELS stock opened at $71.81 on Friday. The firm has a 50-day moving average price of $70.95 and a 200 day moving average price of $66.05. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The company has a market capitalization of $13.39 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 4.32 and a beta of 0.79. 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 (NYSE:ELS) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a net margin of 23.56% and a return on equity of 23.71%. The company had revenue of $380.00 million for the quarter, compared to analyst estimates of $334.53 million. During the same period in the prior year, the company earned $0.66 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.91 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.4775 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.66%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Wall Street Analyst Weigh In

ELS has been the topic of several recent research reports. Truist Financial boosted their price objective on shares of Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI boosted their price objective on shares of Equity LifeStyle Properties from $73.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.50 to $82.00 in a research note on Thursday. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ELS. PGGM Investments increased its stake in shares of Equity LifeStyle Properties by 4,586.1% during the 2nd quarter. PGGM Investments now owns 1,843,496 shares of the real estate investment trust’s stock valued at $120,067,000 after acquiring an additional 1,804,156 shares during the last quarter. Principal Financial Group Inc. increased its position in Equity LifeStyle Properties by 55.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock worth $97,357,000 after purchasing an additional 536,864 shares in the last quarter. ProShare Advisors LLC increased its position in Equity LifeStyle Properties by 4,590.4% during the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after purchasing an additional 450,042 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Equity LifeStyle Properties by 569.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock worth $32,235,000 after purchasing an additional 421,062 shares in the last quarter. Finally, National Bank of Canada FI increased its position in Equity LifeStyle Properties by 46,368.4% during the 1st quarter. National Bank of Canada FI now owns 355,483 shares of the real estate investment trust’s stock worth $22,321,000 after purchasing an additional 354,718 shares in the last quarter. Institutional investors and hedge funds own 97.21% 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.