Spirit of America Management Corp NY Reduces Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Spirit of America Management Corp NY lowered its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,550 shares of the real estate investment trust’s stock after selling 3,000 shares during the period. Spirit of America Management Corp NY’s holdings in Equity LifeStyle Properties were worth $1,323,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ELS. Greenleaf Trust purchased a new position in shares of Equity LifeStyle Properties in the third quarter valued at $207,000. Commerzbank Aktiengesellschaft FI purchased a new position in Equity LifeStyle Properties during the 3rd quarter valued at about $218,000. Dupont Capital Management Corp raised its position in Equity LifeStyle Properties by 14.8% during the third quarter. Dupont Capital Management Corp now owns 146,426 shares of the real estate investment trust’s stock worth $10,446,000 after acquiring an additional 18,879 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Equity LifeStyle Properties by 2,068.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,171 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 1,117 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Equity LifeStyle Properties by 106.7% in the third quarter. Blue Trust Inc. now owns 1,292 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 667 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Equity LifeStyle Properties

In related news, COO Patrick Waite sold 20,820 shares of the business’s stock in a transaction that occurred 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 directly owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Paul Seavey sold 31,988 shares of Equity LifeStyle Properties 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 sale, 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $70.23, for a total value of $1,462,188.60. Following the sale, the chief operating officer now owns 221,777 shares of the company’s stock, valued at approximately $15,575,398.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock valued at $6,348,011 over the last quarter. Company insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock opened at $69.99 on Friday. The business’s fifty day moving average price is $71.16 and its 200 day moving average price is $66.83. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $13.05 billion, a P/E ratio of 38.25, a PEG ratio of 3.60 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last released 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 return on equity of 23.71% and a net margin of 23.56%. The business had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $315.78 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Equity LifeStyle Properties’s quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Equity LifeStyle Properties, Inc. will post 2.92 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.4775 dividend. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.73%. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ELS. Jefferies Financial Group started 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. Evercore ISI upped their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, July 24th. Compass Point boosted their target price 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. Finally, Robert W. Baird raised their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.40.

Equity LifeStyle Properties Company 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.