Venturi Wealth Management LLC Reduces Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Venturi Wealth Management LLC reduced its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,244 shares of the real estate investment trust’s stock after selling 256 shares during the period. Venturi Wealth Management LLC’s holdings in Equity LifeStyle Properties were worth $445,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ELS. PGGM Investments boosted its holdings in shares of Equity LifeStyle Properties by 4,586.1% in 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 buying an additional 1,804,156 shares during the period. Principal Financial Group Inc. increased its stake in shares of Equity LifeStyle Properties by 56.5% during the third quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust’s stock valued at $159,232,000 after acquiring an additional 805,681 shares during the period. ProShare Advisors LLC raised its stake in shares of Equity LifeStyle Properties by 4,590.4% in the 1st quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after buying an additional 450,042 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Equity LifeStyle Properties by 569.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 494,940 shares of the real estate investment trust’s stock valued at $32,235,000 after acquiring an additional 421,062 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Equity LifeStyle Properties by 46,368.4% during 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 during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the stock in a transaction on 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 transaction, the chief operating officer now owns 221,777 shares in the company, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $74.83, for a total value of $2,393,662.04. Following the sale, the chief financial officer now directly owns 148,463 shares in the company, valued at approximately $11,109,486.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Patrick Waite sold 20,820 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,808 shares of company stock valued at $6,348,011 over the last 90 days. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a report on Thursday, October 17th. They set a “hold” rating and a $72.00 price objective on the stock. Compass Point boosted their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Truist Financial increased their price objective on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

Equity LifeStyle Properties Stock Down 0.4 %

Shares of ELS stock opened at $72.24 on Wednesday. The company has a market capitalization of $13.80 billion, a price-to-earnings ratio of 37.24, a P/E/G ratio of 3.90 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. The firm has a fifty day moving average of $70.89 and a 200-day moving average of $67.65. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results 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 return on equity of 24.10% and a net margin of 23.97%. The business had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. During the same period in the prior year, the business earned $0.71 earnings per share. Equity LifeStyle Properties’s revenue was down .4% compared to the same quarter last year. As a group, equities research analysts predict that Equity LifeStyle Properties, Inc. will post 2.9 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company 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. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 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.