New York Life Investment Management LLC Trims Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

New York Life Investment Management LLC decreased its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 53.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,028 shares of the real estate investment trust's stock after selling 23,328 shares during the period. New York Life Investment Management LLC's holdings in Equity LifeStyle Properties were worth $1,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Townsquare Capital LLC lifted its holdings in shares of 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 worth $916,000 after acquiring an additional 2,458 shares during the last quarter. Vert Asset Management LLC boosted its position in 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 valued at $5,296,000 after buying an additional 7,092 shares during the period. Empowered Funds LLC purchased a new position in shares of Equity LifeStyle Properties in the fourth quarter worth about $380,000. Victory Capital Management Inc. lifted its stake in shares of Equity LifeStyle Properties by 0.9% in the 3rd 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. Finally, Citigroup Inc. boosted its holdings in Equity LifeStyle Properties by 16.7% during the 3rd quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust's stock valued at $15,210,000 after acquiring an additional 30,489 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

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Equity LifeStyle Properties Stock Up 1.2 %

Shares of ELS traded up $0.80 on Friday, reaching $68.56. The stock had a trading volume of 1,189,914 shares, compared to its average volume of 1,482,078. The company has a 50-day simple moving average of $66.44 and a 200-day simple moving average of $69.08. The firm has a market capitalization of $13.10 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share 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%. Sell-side 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 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, March 28th. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. Equity LifeStyle Properties's dividend payout ratio is currently 105.64%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ELS. Truist Financial raised Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and lifted their target price for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. Robert W. Baird increased their price target on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Royal Bank of Canada decreased 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, Jefferies Financial Group upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and increased their target price for the stock from $72.00 to $80.00 in a report on Thursday, January 2nd. 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's stock. Based on data from MarketBeat, Equity LifeStyle Properties has an average rating of "Moderate Buy" and an average target price of $73.78.

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.