Securian Asset Management Inc. Sells 457 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Securian Asset Management Inc. decreased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,874 shares of the real estate investment trust’s stock after selling 457 shares during the quarter. Securian Asset Management Inc.’s holdings in Equity LifeStyle Properties were worth $969,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Equity LifeStyle Properties in the fourth quarter worth about $455,623,000. Boston Partners lifted its holdings in Equity LifeStyle Properties by 122.4% during the fourth quarter. Boston Partners now owns 2,728,675 shares of the real estate investment trust’s stock valued at $192,469,000 after purchasing an additional 1,501,692 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Equity LifeStyle Properties by 55.1% in the first quarter. Principal Financial Group Inc. now owns 1,511,750 shares of the real estate investment trust’s stock worth $97,357,000 after purchasing an additional 536,864 shares during the period. ProShare Advisors LLC boosted its position in shares of Equity LifeStyle Properties by 4,590.4% in the first quarter. ProShare Advisors LLC now owns 459,846 shares of the real estate investment trust’s stock worth $29,614,000 after purchasing an additional 450,042 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Equity LifeStyle Properties by 17.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,743,596 shares of the real estate investment trust’s stock worth $193,533,000 after purchasing an additional 410,042 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ELS shares. Truist Financial increased their target price on Equity LifeStyle Properties from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Evercore ISI upped their target price on shares of Equity LifeStyle Properties from $69.00 to $72.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 23rd. Finally, Barclays reduced their price target on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Equity LifeStyle Properties has a consensus rating of “Hold” and a consensus price target of $68.94.

Equity LifeStyle Properties Stock Down 1.0 %

Shares of ELS traded down $0.75 during mid-day trading on Monday, hitting $71.10. The company’s stock had a trading volume of 236,482 shares, compared to its average volume of 1,230,195. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 38.74, a PEG ratio of 4.06 and a beta of 0.77. The company’s 50-day moving average is $65.72 and its 200-day moving average is $64.88. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.34. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $74.04.

Equity LifeStyle Properties (NYSE:ELS) last posted its earnings results on Monday, July 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). Equity LifeStyle Properties had a return on equity of 23.71% and a net margin of 23.56%. The company had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $334.53 million. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.91 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.4775 dividend. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $1.91 dividend on an annualized basis and a yield of 2.69%. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Equity LifeStyle Properties Company 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.