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

Victory Capital Management Inc. increased its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,649,670 shares of the real estate investment trust’s stock after purchasing an additional 39,864 shares during the period. Victory Capital Management Inc. owned approximately 2.43% of Equity LifeStyle Properties worth $331,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Equity LifeStyle Properties during the 2nd quarter worth approximately $30,000. UMB Bank n.a. lifted its holdings 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 acquiring an additional 417 shares during the last quarter. Blue Trust Inc. grew its position in Equity LifeStyle Properties by 167.1% during the 2nd quarter. Blue Trust Inc. now owns 625 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 391 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Equity LifeStyle Properties by 36.0% during the second quarter. GAMMA Investing LLC now owns 819 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 217 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Equity LifeStyle Properties during the 2nd quarter worth approximately $54,000. 97.21% of the stock is owned by institutional investors.

Equity LifeStyle Properties Stock Up 0.1 %

Equity LifeStyle Properties stock traded up $0.09 during trading hours on Tuesday, hitting $72.60. The company had a trading volume of 272,516 shares, 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 firm has a market capitalization of $13.87 billion, a P/E ratio of 37.38, a price-to-earnings-growth ratio of 3.90 and a beta of 0.79. The firm’s fifty day moving average is $70.88 and its 200-day moving average is $67.56. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released its 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). Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The firm had revenue of $387.30 million for the quarter, compared to analyst estimates of $315.78 million. During the same period last year, the business earned $0.71 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.9 earnings per share for the current 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%.

Wall Street Analysts Forecast Growth

ELS has been the subject of several research reports. Wells Fargo & Company raised shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Evercore ISI lifted 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 report on Monday, October 21st. Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a report on Thursday, October 17th. They issued a “hold” rating and a $72.00 price target on the stock. Robert W. Baird lifted their target price on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $68.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, July 24th. Six equities 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.40.

Insider Activity

In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 260,936 shares of the company’s stock, valued at approximately $19,705,886.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Equity LifeStyle Properties news, CEO Marguerite M. Nader sold 33,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 260,936 shares in the company, valued at $19,705,886.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paul Seavey sold 31,988 shares of the firm’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 transaction of $2,393,662.04. Following the completion of the sale, the chief financial officer now directly owns 148,463 shares in the company, valued at $11,109,486.29. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,808 shares of company stock valued at $6,348,011 in the last quarter. 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.