Legal & General Group Plc decreased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 21.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,530,105 shares of the real estate investment trust's stock after selling 413,964 shares during the quarter. Legal & General Group Plc owned about 0.80% of Equity LifeStyle Properties worth $101,905,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Equity LifeStyle Properties by 172.0% in the fourth 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 during the last quarter. Invesco Ltd. raised its holdings in shares of Equity LifeStyle Properties by 592.7% during the 4th quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust's stock valued at $260,955,000 after purchasing an additional 3,352,584 shares in the last quarter. Norges Bank acquired a new stake in shares of Equity LifeStyle Properties in the 4th quarter valued at $163,212,000. Cbre Investment Management Listed Real Assets LLC bought a new stake in Equity LifeStyle Properties in the fourth quarter worth $41,391,000. Finally, Vanguard Group Inc. increased its position in Equity LifeStyle Properties by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust's stock worth $1,668,586,000 after buying an additional 388,888 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.
Equity LifeStyle Properties Price Performance
NYSE:ELS traded down $0.03 during trading hours on Tuesday, reaching $65.54. The company had a trading volume of 553,149 shares, compared to its average volume of 1,295,236. The firm has a market capitalization of $12.53 billion, a PE ratio of 33.63, a PEG 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. The stock has a 50-day moving average of $66.58 and a two-hundred day moving average of $67.79. Equity LifeStyle Properties, Inc. has a one year low of $58.86 and a one year high of $76.60.
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%. Analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.
Equity LifeStyle Properties Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, March 28th. This is a boost from Equity LifeStyle Properties's previous quarterly dividend of $0.48. Equity LifeStyle Properties's dividend payout ratio is presently 105.64%.
Analyst Ratings Changes
A number of analysts have weighed in on ELS shares. Royal Bank of Canada reduced their price target on 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. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a report on Tuesday, April 8th. They issued a "buy" rating and a $80.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating and increased their price target for the company from $66.00 to $73.00 in a report on Tuesday, January 21st. Evercore ISI reduced their price objective on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating for the company in a research note on Tuesday, January 28th. Finally, BMO Capital Markets raised shares of Equity LifeStyle Properties from a "market perform" rating to an "outperform" rating and set a $78.00 price objective for the company in a report on Friday, April 4th. Three 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $74.20.
Read Our Latest Analysis on Equity LifeStyle Properties
About Equity LifeStyle Properties
(
Free Report)
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.
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