Equity LifeStyle Properties, Inc. (NYSE:ELS) Position Trimmed by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC reduced its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 4.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 112,657 shares of the real estate investment trust’s stock after selling 4,724 shares during the quarter. Horizon Kinetics Asset Management LLC owned approximately 0.06% of Equity LifeStyle Properties worth $8,037,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. BOKF NA lifted its holdings in Equity LifeStyle Properties by 2.2% in the first quarter. BOKF NA now owns 16,201 shares of the real estate investment trust’s stock worth $1,025,000 after acquiring an additional 346 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Equity LifeStyle Properties in the 1st quarter worth approximately $876,000. Tidal Investments LLC lifted its holdings in shares of Equity LifeStyle Properties by 35.3% in the 1st quarter. Tidal Investments LLC now owns 79,280 shares of the real estate investment trust’s stock worth $5,106,000 after purchasing an additional 20,697 shares during the last quarter. iA Global Asset Management Inc. boosted its position in Equity LifeStyle Properties by 15.4% during the 1st quarter. iA Global Asset Management Inc. now owns 3,008 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 402 shares during the period. Finally, Walleye Trading LLC bought a new position in Equity LifeStyle Properties during the 1st quarter worth $390,000. 97.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Marguerite M. Nader sold 33,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 260,936 shares in the company, valued at $19,705,886.72. This trade represents a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value 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 $11,109,486.29. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ELS. UBS Group upgraded Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upgraded shares of Equity LifeStyle Properties from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.50 to $82.00 in a research report on Thursday, September 19th. Truist Financial upped their target price on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Evercore ISI lifted their price target on Equity LifeStyle Properties from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Finally, Robert W. Baird boosted their price objective on Equity LifeStyle Properties from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Equity LifeStyle Properties has a consensus rating of “Moderate Buy” and an average price target of $72.50.

Equity LifeStyle Properties Stock Performance

ELS opened at $70.94 on Monday. The business has a 50 day moving average price of $70.38 and a two-hundred day moving average price of $68.15. 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 company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 36.57, a price-to-earnings-growth ratio of 3.77 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings data 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 firm had revenue of $387.30 million during the quarter, compared to analyst estimates 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 quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. Research analysts predict that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The firm 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 dividend payout ratio is currently 98.45%.

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.