Franklin Resources Inc. Raises Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Franklin Resources Inc. raised its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 816,774 shares of the real estate investment trust's stock after buying an additional 6,973 shares during the period. Franklin Resources Inc. owned about 0.43% of Equity LifeStyle Properties worth $54,397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ELS. Public Sector Pension Investment Board increased its position in Equity LifeStyle Properties by 30.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 23,147 shares of the real estate investment trust's stock valued at $1,651,000 after purchasing an additional 5,370 shares during the period. Paloma Partners Management Co bought a new position in shares of Equity LifeStyle Properties during the third quarter valued at approximately $278,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Equity LifeStyle Properties during the third quarter valued at approximately $559,000. Investment Management Corp of Ontario boosted its position in shares of Equity LifeStyle Properties by 48.2% in the 3rd quarter. Investment Management Corp of Ontario now owns 5,841 shares of the real estate investment trust's stock worth $417,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Equity LifeStyle Properties by 228.8% in the 3rd quarter. Quarry LP now owns 1,519 shares of the real estate investment trust's stock worth $108,000 after buying an additional 1,057 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

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Equity LifeStyle Properties Stock Down 2.1 %

NYSE:ELS traded down $1.38 during mid-day trading on Thursday, reaching $62.67. The company's stock had a trading volume of 266,171 shares, compared to its average volume of 1,292,867. The stock has a fifty day moving average of $66.63 and a 200-day moving average of $67.97. Equity LifeStyle Properties, Inc. has a 1 year low of $58.86 and a 1 year high of $76.60. The firm has a market capitalization of $11.98 billion, a PE ratio of 32.25, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced 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%. Equities research analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, March 28th. 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 yield of 3.29%. Equity LifeStyle Properties's dividend payout ratio (DPR) is 105.64%.

Analyst Ratings Changes

ELS has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $66.00 to $73.00 in a report on Tuesday, January 21st. Royal Bank of Canada dropped 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. Robert W. Baird increased their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Evercore ISI lowered 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. Finally, BMO Capital Markets upgraded shares of Equity LifeStyle Properties from a "market perform" rating to an "outperform" rating and set a $78.00 target price for the company in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.20.

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.