Allstate Corp Lowers Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Allstate Corp lessened its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,942 shares of the real estate investment trust's stock after selling 7,107 shares during the period. Allstate Corp's holdings in Equity LifeStyle Properties were worth $3,260,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Equity LifeStyle Properties by 172.0% in the 4th quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust's stock valued at $404,319,000 after acquiring an additional 3,838,809 shares in the last quarter. Norges Bank purchased a new position in shares of Equity LifeStyle Properties in the fourth quarter worth $163,212,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Equity LifeStyle Properties by 592.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,963 shares of the real estate investment trust's stock valued at $116,068,000 after purchasing an additional 1,391,846 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Equity LifeStyle Properties by 14,049.2% during the third quarter. Quantinno Capital Management LP now owns 713,971 shares of the real estate investment trust's stock valued at $50,935,000 after buying an additional 708,925 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC bought a new stake in Equity LifeStyle Properties in the 4th quarter worth about $41,391,000. Hedge funds and other institutional investors own 97.21% of the company's stock.

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Equity LifeStyle Properties Stock Performance

Shares of NYSE ELS traded up $1.74 during trading on Thursday, hitting $68.40. The company had a trading volume of 850,799 shares, compared to its average volume of 1,283,241. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02. The firm has a market capitalization of $13.07 billion, a P/E ratio of 35.08, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. The stock has a 50 day simple moving average of $66.97 and a 200 day simple moving average of $68.39.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 EPS 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, analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.515 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.06 annualized dividend and a yield of 3.01%. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. Equity LifeStyle Properties's dividend payout ratio is currently 105.64%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 29th. Evercore ISI dropped their target price on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and boosted 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 report on Friday, January 17th. Finally, Jefferies Financial Group raised Equity LifeStyle Properties from a "hold" rating to a "buy" rating and raised their target price for the stock from $72.00 to $80.00 in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.78.

Equity LifeStyle Properties Company Profile

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.