M&T Bank Corp Sells 5,372 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

M&T Bank Corp reduced its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,240 shares of the real estate investment trust's stock after selling 5,372 shares during the period. M&T Bank Corp's holdings in Equity LifeStyle Properties were worth $5,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELS. Townsquare Capital LLC increased its position in Equity LifeStyle Properties by 23.7% during the 3rd quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust's stock valued at $916,000 after purchasing an additional 2,458 shares during the period. Vert Asset Management LLC increased its position in shares of Equity LifeStyle Properties by 9.8% during the fourth quarter. Vert Asset Management LLC now owns 79,516 shares of the real estate investment trust's stock worth $5,296,000 after buying an additional 7,092 shares during the period. Empowered Funds LLC bought a new position in Equity LifeStyle Properties during the fourth quarter worth $380,000. Citigroup Inc. lifted its holdings in Equity LifeStyle Properties by 16.7% in the third quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust's stock valued at $15,210,000 after buying an additional 30,489 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Equity LifeStyle Properties by 0.9% during the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust's stock valued at $331,707,000 after acquiring an additional 39,864 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

ELS has been the subject of several research analyst reports. Truist Financial raised Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. 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 report on Tuesday, January 28th. Robert W. Baird lifted their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Royal Bank of Canada cut their price objective on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and upped their price objective for the stock from $66.00 to $73.00 in a report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $73.78.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock traded down $0.82 during trading on Tuesday, hitting $67.83. The company's stock had a trading volume of 1,888,486 shares, compared to its average volume of 1,211,596. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. The company has a market cap of $12.96 billion, a PE ratio of 34.78, a P/E/G ratio of 3.02 and a beta of 0.79. The business has a fifty day moving average of $66.53 and a 200-day moving average of $69.03. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60.

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 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%. As a group, research analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed 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. 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 3.04%. The ex-dividend date of this dividend is Friday, March 28th. Equity LifeStyle Properties's payout ratio is currently 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.