Clearbridge Investments LLC Sells 148,457 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Clearbridge Investments LLC decreased its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 524,088 shares of the real estate investment trust's stock after selling 148,457 shares during the period. Clearbridge Investments LLC owned about 0.27% of Equity LifeStyle Properties worth $34,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELS. National Pension Service purchased a new stake in Equity LifeStyle Properties during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. bought a new stake in shares of Equity LifeStyle Properties during the 4th quarter valued at $30,000. Board of the Pension Protection Fund purchased a new stake in shares of Equity LifeStyle Properties in the 4th quarter worth $33,000. MassMutual Private Wealth & Trust FSB raised its holdings in Equity LifeStyle Properties by 43.5% in 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. lifted its position in Equity LifeStyle Properties by 68.2% during the fourth quarter. UMB Bank n.a. now owns 898 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS traded down $2.08 during mid-day trading on Friday, reaching $65.94. The stock had a trading volume of 2,318,951 shares, compared to its average volume of 1,299,360. The business's 50 day moving average price is $66.98 and its 200 day moving average price is $68.25. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The company has a market cap of $12.60 billion, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15.

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

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.515 dividend. This is a boost 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 3.12%. The ex-dividend date is Friday, March 28th. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 105.64%.

Analysts Set New Price Targets

Several research firms recently issued reports on ELS. Jefferies Financial Group raised shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and increased their target price for the stock from $72.00 to $80.00 in a report on Thursday, January 2nd. Robert W. Baird increased their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Truist Financial upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. BMO Capital Markets upgraded Equity LifeStyle Properties from a "market perform" rating to an "outperform" rating and set a $78.00 price target for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating and boosted their price objective for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties presently has an average rating of "Moderate Buy" and a consensus price target of $74.20.

Equity LifeStyle Properties 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.