Horizon Kinetics Asset Management LLC Has $8.04 Million Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Horizon Kinetics Asset Management LLC cut its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 4.0% during the third quarter, HoldingsChannel.com reports. The firm owned 112,657 shares of the real estate investment trust’s stock after selling 4,724 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Equity LifeStyle Properties were worth $8,037,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Equity LifeStyle Properties in the second quarter worth $30,000. UMB Bank n.a. grew its stake in 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 in the last quarter. Blue Trust Inc. grew its stake 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 purchasing an additional 391 shares in the last quarter. GAMMA Investing LLC raised its stake 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 worth $53,000 after purchasing an additional 217 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Equity LifeStyle Properties during the 2nd quarter worth about $54,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Insider Buying and Selling

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.52, for a total value of $2,492,160.00. Following the completion of the sale, the chief executive officer now owns 260,936 shares in the company, valued at approximately $19,705,886.72. This trade represents a 11.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul Seavey sold 31,988 shares of the business’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 owns 148,463 shares in the company, valued at approximately $11,109,486.29. This represents a 17.73 % 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 insiders.

Equity LifeStyle Properties Stock Up 0.1 %

Equity LifeStyle Properties stock opened at $70.94 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The firm has a fifty day moving average price of $70.38 and a two-hundred day moving average price of $68.15. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 36.57, a P/E/G ratio of 3.77 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced its 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). The business 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%. Equity LifeStyle Properties’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.71 EPS. As a group, analysts forecast 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 paid a $0.477 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.69%. Equity LifeStyle Properties’s payout ratio is 98.45%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ELS shares. Evercore ISI boosted their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Compass Point raised their price target on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird lifted their price objective on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.50 to $82.00 in a research report on Thursday, September 19th. Six investment 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. Based on data from MarketBeat.com, Equity LifeStyle Properties has an average rating of “Moderate Buy” and a consensus target price of $72.50.

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.