Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 140.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,160 shares of the real estate investment trust's stock after buying an additional 36,323 shares during the period. Pinebridge Investments L.P.'s holdings in Equity LifeStyle Properties were worth $4,140,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELS. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 3,838,809 shares during the last quarter. Invesco Ltd. raised its position in shares of Equity LifeStyle Properties by 592.7% in 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 purchased a new position in shares of Equity LifeStyle Properties during the 4th quarter valued at approximately $163,212,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in shares of Equity LifeStyle Properties during the fourth quarter worth approximately $41,391,000. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Equity LifeStyle Properties in the fourth quarter worth $36,520,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Performance

NYSE ELS traded down $0.09 during trading hours on Tuesday, hitting $63.79. The company had a trading volume of 1,227,302 shares, compared to its average volume of 1,304,102. 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 firm has a market cap of $12.19 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. Equity LifeStyle Properties, Inc. has a fifty-two week low of $58.86 and a fifty-two week high of $76.60. The business has a fifty day simple moving average of $66.17 and a 200-day simple moving average of $67.46.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share for the quarter, hitting analysts' consensus estimates of $0.83. The business had revenue of $327.21 million for the quarter, compared to analysts' expectations of $391.34 million. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. During the same quarter last year, the company earned $0.59 EPS. Equities analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.23%. This is a positive change from Equity LifeStyle Properties's previous quarterly dividend of $0.48. The ex-dividend date was Friday, March 28th. Equity LifeStyle Properties's dividend payout ratio is 106.74%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ELS. Evercore ISI dropped 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. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a report on Tuesday, April 8th. They issued a "buy" rating and a $80.00 price objective for the company. BMO Capital Markets decreased their target price on Equity LifeStyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating and boosted their price target for the company from $66.00 to $73.00 in a report on Tuesday, January 21st. Finally, Robert W. Baird raised their price objective on Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Equity LifeStyle Properties currently has an average rating of "Moderate Buy" and an average target price of $74.33.

Equity LifeStyle Properties 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.