Easterly Investment Partners LLC lessened its position in Equity Lifestyle Properties, Inc. (NYSE:ELS – Free Report) by 82.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,769 shares of the real estate investment trust’s stock after selling 152,877 shares during the quarter. Easterly Investment Partners LLC’s holdings in Equity Lifestyle Properties were worth $1,926,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Pring Turner Capital Group Inc. lifted its position in Equity Lifestyle Properties by 0.5% during the fourth quarter. Pring Turner Capital Group Inc. now owns 74,255 shares of the real estate investment trust’s stock worth $4,501,000 after buying an additional 359 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Equity Lifestyle Properties by 2.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 349,759 shares of the real estate investment trust’s stock worth $21,199,000 after buying an additional 9,540 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Equity Lifestyle Properties by 21.5% during the fourth quarter. BNP Paribas Financial Markets now owns 156,313 shares of the real estate investment trust’s stock worth $9,474,000 after buying an additional 27,614 shares in the last quarter. Viawealth LLC purchased a new position in Equity Lifestyle Properties during the fourth quarter worth approximately $208,000. Finally, Norges Bank purchased a new position in Equity Lifestyle Properties during the fourth quarter worth approximately $125,352,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.
Equity Lifestyle Properties Trading Down 1.5%
Shares of NYSE ELS opened at $60.83 on Tuesday. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $69.00. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $63.24 and a 200-day simple moving average of $63.58. The stock has a market capitalization of $11.80 billion, a PE ratio of 30.42, a PEG ratio of 3.76 and a beta of 0.69.
Equity Lifestyle Properties Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 26th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 108.50%.
Analysts Set New Price Targets
A number of brokerages recently commented on ELS. BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price objective (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. Zelman & Associates began coverage on Equity Lifestyle Properties in a research report on Monday, March 16th. They set an “underperform” rating and a $59.25 price objective on the stock. Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Robert W. Baird lifted their price objective on Equity Lifestyle Properties from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Barclays reduced their target price on Equity Lifestyle Properties from $71.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Equity Lifestyle Properties has a consensus rating of “Moderate Buy” and an average target price of $69.20.
View Our Latest Stock Report on ELS
Insider Buying and Selling at Equity Lifestyle Properties
In other news, Director David J. Contis sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total transaction of $201,660.00. Following the sale, the director owned 14,890 shares of the company’s stock, valued at approximately $1,000,905.80. This trade represents a 16.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.
Equity Lifestyle Properties Company Profile
Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.
In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.
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