Great Lakes Advisors LLC Sells 2,381 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Great Lakes Advisors LLC lessened its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 326,013 shares of the real estate investment trust’s stock after selling 2,381 shares during the period. Great Lakes Advisors LLC’s holdings in Equity LifeStyle Properties were worth $21,712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. HighTower Advisors LLC increased its holdings in Equity LifeStyle Properties by 2.1% in the fourth quarter. HighTower Advisors LLC now owns 11,446 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 238 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Equity LifeStyle Properties by 51.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 113,007 shares of the real estate investment trust’s stock worth $7,526,000 after acquiring an additional 38,401 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Equity LifeStyle Properties in the fourth quarter worth about $659,000. PNC Financial Services Group Inc. increased its holdings in shares of Equity LifeStyle Properties by 5.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 18,644 shares of the real estate investment trust’s stock worth $1,242,000 after acquiring an additional 922 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in shares of Equity LifeStyle Properties in the fourth quarter worth about $268,000. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Down 1.5 %

ELS stock opened at $66.81 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. The stock has a market capitalization of $12.77 billion, a P/E ratio of 34.26, a P/E/G ratio of 3.02 and a beta of 0.79. The business has a 50-day moving average of $66.55 and a 200-day moving average of $69.01. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, hitting 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, sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.515 per share. 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. This represents a $2.06 annualized dividend and a yield of 3.08%. Equity LifeStyle Properties’s dividend payout ratio is 105.64%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ELS shares. Truist Financial upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their price target for the stock from $72.00 to $80.00 in a report on Thursday, January 2nd. Robert W. Baird increased their price target on Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Evercore ISI lowered their price target on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a report on Tuesday, January 28th. Finally, Royal Bank of Canada lowered their price target 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. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.78.

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.