Bank of New York Mellon Corp Purchases 124,499 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Bank of New York Mellon Corp increased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,792,125 shares of the real estate investment trust's stock after purchasing an additional 124,499 shares during the period. Bank of New York Mellon Corp owned 0.94% of Equity LifeStyle Properties worth $119,356,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Townsquare Capital LLC raised its stake in shares of Equity LifeStyle Properties by 23.7% in the third quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust's stock worth $916,000 after purchasing an additional 2,458 shares during the last quarter. Vert Asset Management LLC increased its holdings in Equity LifeStyle Properties by 9.8% in the 4th quarter. Vert Asset Management LLC now owns 79,516 shares of the real estate investment trust's stock worth $5,296,000 after buying an additional 7,092 shares in the last quarter. Empowered Funds LLC purchased a new position in Equity LifeStyle Properties in the 4th quarter worth about $380,000. Victory Capital Management Inc. raised its holdings in shares of Equity LifeStyle Properties by 0.9% during the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust's stock valued at $331,707,000 after purchasing an additional 39,864 shares during the last quarter. Finally, Citigroup Inc. grew its position in Equity LifeStyle Properties by 16.7% in the 3rd quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust's stock worth $15,210,000 after purchasing an additional 30,489 shares during the period. Institutional investors own 97.21% of the company's stock.

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Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock traded up $0.65 on Wednesday, hitting $68.71. 1,454,086 shares of the company traded hands, compared to its average volume of 1,495,935. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. The business has a 50-day simple moving average of $66.41 and a 200 day simple moving average of $69.10. 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 stock has a market capitalization of $13.13 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. Research analysts expect that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.00%. Equity LifeStyle Properties's payout ratio is 105.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ELS shares. Evercore ISI reduced their price objective on Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating for the company in a research report on Tuesday, January 28th. Truist Financial raised shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and increased their price target for the stock from $66.00 to $73.00 in a research report on Tuesday, January 21st. Royal Bank of Canada cut their price objective on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 29th. 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 report on Thursday, January 2nd. Three 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 data from MarketBeat, Equity LifeStyle Properties currently has an average rating of "Moderate Buy" and an average price target 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.