Retirement Systems of Alabama Sells 3,923 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Retirement Systems of Alabama reduced its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 292,481 shares of the real estate investment trust’s stock after selling 3,923 shares during the period. Retirement Systems of Alabama owned 0.16% of Equity LifeStyle Properties worth $19,049,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Lecap Asset Management Ltd. bought a new position in Equity LifeStyle Properties during the 2nd quarter worth $1,734,000. Fifth Third Wealth Advisors LLC bought a new position in Equity LifeStyle Properties during the 2nd quarter worth $363,000. Fifth Third Bancorp raised its position in Equity LifeStyle Properties by 8.7% during the 2nd quarter. Fifth Third Bancorp now owns 4,947 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 394 shares during the last quarter. Marshall Financial Group LLC raised its position in Equity LifeStyle Properties by 8.3% during the 2nd quarter. Marshall Financial Group LLC now owns 15,492 shares of the real estate investment trust’s stock worth $1,009,000 after purchasing an additional 1,189 shares during the last quarter. Finally, Raymond James & Associates raised its position in Equity LifeStyle Properties by 27.7% during the 2nd quarter. Raymond James & Associates now owns 100,114 shares of the real estate investment trust’s stock worth $6,520,000 after purchasing an additional 21,686 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, COO Patrick Waite sold 20,820 shares of Equity LifeStyle Properties stock in a transaction dated 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 in the company, valued at approximately $15,575,398.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

ELS has been the subject of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $68.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, July 24th. Evercore ISI lifted their price objective on 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, Truist Financial lifted their price objective 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. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.94.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $70.36 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a 50-day moving average of $67.36 and a 200-day moving average of $65.13. The company has a market cap of $13.12 billion, a PE ratio of 38.45, a P/E/G ratio of 4.06 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $74.04.

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

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.4775 per share. The ex-dividend date is Friday, September 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.71%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is 104.37%.

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.