Massachusetts Financial Services Co. MA Grows Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Massachusetts Financial Services Co. MA grew its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,201,077 shares of the real estate investment trust's stock after acquiring an additional 23,837 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.68% of Equity LifeStyle Properties worth $213,192,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Equity LifeStyle Properties by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,887,371 shares of the real estate investment trust's stock worth $258,536,000 after acquiring an additional 53,775 shares during the last quarter. OLD Mission Capital LLC bought a new stake in shares of Equity LifeStyle Properties during the 4th quarter worth $5,820,000. Franklin Resources Inc. boosted its holdings in shares of Equity LifeStyle Properties by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 816,774 shares of the real estate investment trust's stock worth $54,397,000 after buying an additional 6,973 shares during the last quarter. Alliancebernstein L.P. grew its position in Equity LifeStyle Properties by 0.6% during the fourth quarter. Alliancebernstein L.P. now owns 295,620 shares of the real estate investment trust's stock valued at $19,688,000 after buying an additional 1,754 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Equity LifeStyle Properties by 5.9% during the fourth quarter. Wellington Management Group LLP now owns 12,054 shares of the real estate investment trust's stock worth $803,000 after buying an additional 673 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have recently weighed in on ELS shares. Evercore ISI reduced their target price on shares of 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. Royal Bank of Canada cut their target price on Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 29th. BMO Capital Markets raised shares of Equity LifeStyle Properties from a "market perform" rating to an "outperform" rating and set a $78.00 price target on the stock in a report on Friday, April 4th. Truist Financial raised shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a "hold" rating to a "buy" rating and lifted their price target for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.20.

Equity LifeStyle Properties Trading Up 3.4 %

NYSE:ELS traded up $2.13 during midday trading on Wednesday, reaching $63.92. 2,602,924 shares of the stock traded hands, compared to its average volume of 1,296,848. 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 company has a fifty day moving average of $66.63 and a 200 day moving average of $67.97. The stock has a market capitalization of $12.22 billion, a P/E ratio of 32.78, a PEG ratio of 3.02 and a beta of 0.72. Equity LifeStyle Properties, Inc. has a 12 month low of $58.86 and a 12 month 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 the consensus estimate of $0.76. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. On average, research analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.22%. 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. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 105.64%.

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.