Quantinno Capital Management LP Increases Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Quantinno Capital Management LP lifted its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 14,049.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 713,971 shares of the real estate investment trust’s stock after purchasing an additional 708,925 shares during the quarter. Equity LifeStyle Properties accounts for approximately 0.7% of Quantinno Capital Management LP’s holdings, making the stock its 17th biggest position. Quantinno Capital Management LP owned approximately 0.37% of Equity LifeStyle Properties worth $50,935,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Equity LifeStyle Properties in the 2nd quarter worth about $30,000. UMB Bank n.a. raised its position in shares of 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 worth $38,000 after purchasing an additional 417 shares during the last quarter. Blue Trust Inc. raised its position in shares of Equity LifeStyle Properties by 167.1% in the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 391 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Equity LifeStyle Properties by 36.0% in the 2nd 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. Finally, Acadian Asset Management LLC purchased a new position in shares of Equity LifeStyle Properties in the 2nd quarter worth about $54,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

ELS has been the subject of several recent analyst reports. Wells Fargo & Company raised Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price for the company. Evercore ISI boosted their target price on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Truist Financial boosted their target price on Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Six equities 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Equity LifeStyle Properties Trading Up 0.4 %

Equity LifeStyle Properties stock opened at $70.01 on Thursday. The business has a 50-day simple moving average of $70.01 and a two-hundred day simple moving average of $68.56. The company has a market cap of $13.38 billion, a P/E ratio of 36.09, a P/E/G ratio of 3.70 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. 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 released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The firm had revenue of $387.30 million for the quarter, compared to the consensus estimate of $315.78 million. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS 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. Investors of record on Friday, December 27th will be paid a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.73%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 98.45%.

Insider Activity at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 31,988 shares of the business’s stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marguerite M. Nader sold 33,000 shares of the business’s 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 transaction, the chief executive officer now owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This trade represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

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.