Korea Investment CORP Reduces Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Korea Investment CORP reduced its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 49.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 272,781 shares of the real estate investment trust's stock after selling 261,945 shares during the period. Korea Investment CORP owned about 0.14% of Equity LifeStyle Properties worth $18,167,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in shares of Equity LifeStyle Properties by 13.2% during the third quarter. The Manufacturers Life Insurance Company now owns 165,021 shares of the real estate investment trust's stock worth $11,773,000 after buying an additional 19,282 shares during the last quarter. D.A. Davidson & CO. bought a new position in Equity LifeStyle Properties in the third quarter valued at $256,000. BNP Paribas Financial Markets lifted its stake in Equity LifeStyle Properties by 3.4% in the third quarter. BNP Paribas Financial Markets now owns 186,298 shares of the real estate investment trust's stock valued at $13,290,000 after acquiring an additional 6,076 shares during the last quarter. Townsquare Capital LLC raised its stake in Equity LifeStyle Properties by 23.7% in the 3rd quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust's stock valued at $916,000 after acquiring an additional 2,458 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Equity LifeStyle Properties by 3.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,606 shares of the real estate investment trust's stock worth $5,322,000 after acquiring an additional 2,767 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts recently commented on ELS shares. Jefferies Financial Group upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating and raised their price target for the stock from $72.00 to $80.00 in a research report on Thursday, January 2nd. Truist Financial upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Evercore ISI decreased their price objective on Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating for the company in a report on Tuesday, January 28th. Robert W. Baird upped their price objective on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada lowered 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. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Equity LifeStyle Properties currently has an average rating of "Moderate Buy" and an average price target of $73.78.

Equity LifeStyle Properties Stock Up 2.7 %

Shares of ELS stock traded up $1.77 on Thursday, hitting $68.43. The stock had a trading volume of 619,623 shares, compared to its average volume of 1,475,282. The business has a 50 day moving average price of $66.97 and a 200 day moving average price of $68.39. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $76.60. The company has a market cap of $13.08 billion, a PE ratio of 35.09, a P/E/G 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 posted its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, March 28th. This is a positive change from Equity LifeStyle Properties's previous quarterly dividend of $0.48. Equity LifeStyle Properties's dividend payout ratio is 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.