Adelante Capital Management LLC Has $12.64 Million Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Adelante Capital Management LLC lowered its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 51.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 177,242 shares of the real estate investment trust’s stock after selling 190,449 shares during the period. Equity LifeStyle Properties comprises about 0.6% of Adelante Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Adelante Capital Management LLC’s holdings in Equity LifeStyle Properties were worth $12,644,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Equity LifeStyle Properties in the second quarter worth about $30,000. UMB Bank n.a. lifted its stake in Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 417 shares during the last quarter. Blue Trust Inc. boosted its position in Equity LifeStyle Properties by 167.1% in the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 391 shares in the last quarter. GAMMA Investing LLC boosted its position in 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 valued at $53,000 after buying an additional 217 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Equity LifeStyle Properties during the second quarter worth $54,000. 97.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company upgraded 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 note on Thursday, September 19th. Truist Financial lifted their price target on Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Robert W. Baird lifted their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI upped their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Six research 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.50.

Insiders Place Their Bets

In other news, CEO Marguerite M. Nader sold 33,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.52, for a total transaction of $2,492,160.00. Following the completion of the sale, the chief executive officer now directly owns 260,936 shares of the company’s stock, valued at $19,705,886.72. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Paul Seavey sold 31,988 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $11,109,486.29. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Trading Down 1.1 %

NYSE:ELS opened at $71.33 on Friday. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The firm’s fifty day moving average is $70.16 and its 200-day moving average is $68.43. The firm has a market cap of $13.63 billion, a P/E ratio of 36.77, a P/E/G ratio of 3.79 and a beta of 0.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03.

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 analysts’ consensus estimates of $0.72 by ($0.28). The business had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Cuts Dividend

The business 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 dividend of $0.477 per share. This represents a $1.91 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 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.