Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by PGGM Investments

PGGM Investments reduced its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,919,290 shares of the real estate investment trust’s stock after selling 2,742 shares during the quarter. Equity LifeStyle Properties comprises about 1.7% of PGGM Investments’ portfolio, making the stock its 16th biggest position. PGGM Investments’ holdings in Equity LifeStyle Properties were worth $127,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELS. National Pension Service purchased a new stake in Equity LifeStyle Properties in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. purchased a new stake in Equity LifeStyle Properties in the 4th quarter valued at $30,000. Board of the Pension Protection Fund purchased a new stake in Equity LifeStyle Properties in the 4th quarter valued at $33,000. MassMutual Private Wealth & Trust FSB boosted its stake in Equity LifeStyle Properties by 43.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 171 shares during the period. Finally, UMB Bank n.a. grew its position in Equity LifeStyle Properties by 68.2% during the 4th quarter. UMB Bank n.a. now owns 898 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 364 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ELS has been the subject of a number of research reports. Royal Bank of Canada reduced their target price on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price objective for the company from $72.00 to $80.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their target price for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Truist Financial upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Robert W. Baird lifted their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.78.

Equity LifeStyle Properties Trading Down 1.5 %

Shares of ELS stock opened at $66.81 on Thursday. The business’s fifty day moving average price is $66.55 and its 200 day moving average price is $69.01. The firm has a market capitalization of $12.77 billion, a PE ratio of 34.26, a P/E/G ratio of 3.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. 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 posted its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. As a group, sell-side analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 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, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 28th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 105.64%.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.