Victory Capital Management Inc. Buys 39,864 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Victory Capital Management Inc. boosted its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.9% during the 3rd quarter, Holdings Channel reports. The firm owned 4,649,670 shares of the real estate investment trust’s stock after buying an additional 39,864 shares during the period. Victory Capital Management Inc.’s holdings in Equity LifeStyle Properties were worth $331,707,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ELS. V Square Quantitative Management LLC purchased a new position in Equity LifeStyle Properties during the 2nd quarter valued at $30,000. UMB Bank n.a. increased its holdings in shares of Equity LifeStyle Properties by 356.4% in the third 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 period. Blue Trust Inc. lifted its position in Equity LifeStyle Properties by 167.1% during the second quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 391 shares during the period. GAMMA Investing LLC increased its holdings in shares of Equity LifeStyle Properties by 36.0% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 217 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Equity LifeStyle Properties in the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ELS. Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Evercore ISI boosted their price target on shares of Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Compass Point boosted their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Robert W. Baird increased their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Truist Financial boosted their price target on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Moderate Buy” and an average price target of $72.40.

Equity LifeStyle Properties Stock Performance

Shares of ELS traded up $0.09 on Tuesday, reaching $72.60. 272,516 shares of the stock traded hands, compared to its average volume of 1,207,004. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. The stock’s 50-day moving average price is $70.88 and its 200-day moving average price is $67.56. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 37.38, a P/E/G ratio of 3.90 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results 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 net margin of 23.97% and a return on equity of 24.10%. The firm had revenue of $387.30 million during the quarter, compared to the consensus estimate of $315.78 million. During the same quarter in the prior year, the business earned $0.71 EPS. Equity LifeStyle Properties’s revenue was down .4% on a year-over-year basis. Equities analysts forecast that Equity LifeStyle Properties, Inc. will post 2.9 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, December 27th. Equity LifeStyle Properties’s payout ratio is presently 98.45%.

Insider Transactions at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of the company’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 completion of the transaction, the chief operating officer now owns 221,777 shares of the company’s stock, valued at $15,575,398.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Patrick Waite sold 20,820 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold 85,808 shares of company stock valued at $6,348,011 over the last three months. Company insiders own 1.40% 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.