Insider Selling: Equity Lifestyle Properties, Inc. (NYSE:ELS) CFO Sells $873,600.00 in Stock

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Equity Lifestyle Properties, Inc. (NYSE:ELS) CFO Paul Seavey sold 7,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $124.80, for a total value of $873,600.00. Following the completion of the transaction, the chief financial officer now directly owns 71,571 shares in the company, valued at approximately $8,932,060.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of ELS opened at $128.99 on Thursday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.15. Equity Lifestyle Properties, Inc. has a 12-month low of $90.90 and a 12-month high of $129.82. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 4.22 and a beta of 0.26. The firm’s fifty day moving average price is $124.14.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.02. Equity Lifestyle Properties had a return on equity of 22.00% and a net margin of 27.02%. The business had revenue of $248.37 million for the quarter, compared to analyst estimates of $244.91 million. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts predict that Equity Lifestyle Properties, Inc. will post 4.2 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.613 per share. This represents a $2.45 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 26th. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.61. Equity Lifestyle Properties’s dividend payout ratio is 63.31%.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Equity Lifestyle Properties by 12.7% during the first quarter. BlackRock Inc. now owns 8,080,389 shares of the real estate investment trust’s stock valued at $923,589,000 after acquiring an additional 912,522 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Equity Lifestyle Properties by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,268,594 shares of the real estate investment trust’s stock valued at $123,217,000 after acquiring an additional 16,273 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Equity Lifestyle Properties by 8.1% during the first quarter. Principal Financial Group Inc. now owns 1,217,043 shares of the real estate investment trust’s stock valued at $139,108,000 after acquiring an additional 91,203 shares during the period. Geode Capital Management LLC lifted its stake in shares of Equity Lifestyle Properties by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 1,085,533 shares of the real estate investment trust’s stock valued at $105,437,000 after acquiring an additional 82,159 shares during the period. Finally, Norges Bank acquired a new position in shares of Equity Lifestyle Properties during the fourth quarter valued at $77,789,000. 94.42% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have commented on ELS shares. BMO Capital Markets reissued a “hold” rating and issued a $120.00 price objective on shares of Equity Lifestyle Properties in a research note on Wednesday, April 24th. Zacks Investment Research raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $112.25.

Equity Lifestyle Properties Company Profile

We are a self-administered, self-managed real estate investment trust (?REIT?) with headquarters in Chicago. As of January 28, 2019, we own or have an interest in 409 quality properties in 33 states and British Columbia consisting of 153,984 sites.

Further Reading: Dividend Stocks – Are They Right For You?

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