Prudential Financial Inc. Trims Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Prudential Financial Inc. lowered its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 46.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 284,535 shares of the real estate investment trust's stock after selling 242,162 shares during the period. Prudential Financial Inc. owned approximately 0.15% of Equity LifeStyle Properties worth $20,171,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Townsquare Capital LLC boosted its stake in shares of Equity LifeStyle Properties by 23.7% during the third 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. Empowered Funds LLC bought a new stake in Equity LifeStyle Properties during the 4th quarter valued at $380,000. Vert Asset Management LLC boosted its position in Equity LifeStyle Properties by 9.8% during the 4th 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. Citigroup Inc. grew its stake in shares of 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 worth $15,210,000 after purchasing an additional 30,489 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Equity LifeStyle Properties by 6.4% in the 4th quarter. Nordea Investment Management AB now owns 21,574 shares of the real estate investment trust's stock worth $1,432,000 after buying an additional 1,301 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

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Equity LifeStyle Properties Stock Performance

Shares of NYSE:ELS traded up $0.27 during midday trading on Monday, reaching $66.70. 1,693,639 shares of the company's stock traded hands, compared to its average volume of 1,283,274. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $76.60. The stock has a 50 day moving average of $66.97 and a 200 day moving average of $68.47. The company has a market cap of $12.75 billion, a price-to-earnings ratio of 34.21, a P/E/G 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 (NYSE:ELS - Get Free Report) last announced its quarterly 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%. As a group, equities research analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed 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 3.09%. 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 is 105.64%.

Analysts Set New Price Targets

ELS has been the topic of several research reports. Truist Financial raised Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Robert W. Baird lifted their price target on 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 Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating for the company in a report on Wednesday, January 29th. Evercore ISI dropped their target price on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating on the stock in a report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and increased their price target for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Equity LifeStyle Properties currently has a consensus rating of "Moderate Buy" and a consensus 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.