Equity LifeStyle Properties, Inc. (NYSE:ELS) Position Reduced by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 46.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 430,191 shares of the real estate investment trust's stock after selling 371,706 shares during the quarter. Ameriprise Financial Inc. owned about 0.23% of Equity LifeStyle Properties worth $27,336,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. National Pension Service acquired a new stake in Equity LifeStyle Properties during the fourth quarter worth approximately $25,000. Bessemer Group Inc. lifted its stake in shares of Equity LifeStyle Properties by 121.4% during the 4th quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 210 shares during the period. Geneos Wealth Management Inc. acquired a new stake in shares of Equity LifeStyle Properties during the fourth quarter worth $30,000. Board of the Pension Protection Fund purchased a new stake in shares of Equity LifeStyle Properties in the fourth quarter valued at $33,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Equity LifeStyle Properties by 43.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 171 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Analyst Ratings Changes

ELS has been the subject of several recent analyst reports. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a report on Tuesday, April 8th. They issued a "buy" rating and a $80.00 price target for the company. Evercore ISI lowered 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 report on Tuesday, January 28th. BMO Capital Markets cut their price target on shares of Equity LifeStyle Properties from $78.00 to $77.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank of Canada decreased their price target on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 29th. Finally, Truist Financial dropped their price objective on Equity LifeStyle Properties from $72.00 to $71.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Three research 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. According to data from MarketBeat.com, Equity LifeStyle Properties has a consensus rating of "Moderate Buy" and an average target price of $74.33.

Equity LifeStyle Properties Stock Up 0.8%

NYSE ELS traded up $0.51 during trading hours on Monday, hitting $65.37. The company had a trading volume of 797,934 shares, compared to its average volume of 1,301,103. The firm's 50 day moving average is $65.13 and its 200 day moving average is $66.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a fifty-two week low of $58.86 and a fifty-two week high of $76.60. The company has a market capitalization of $12.50 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 3.02 and a beta of 0.76.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last issued its earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share for the quarter, hitting the consensus estimate of $0.83. The company had revenue of $327.21 million during the quarter, compared to the consensus estimate of $391.34 million. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. During the same quarter in the prior year, the business earned $0.59 earnings per share. Sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.06 annualized dividend and a dividend yield of 3.15%. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 106.74%.

Insider Activity

In other news, CFO Paul Seavey sold 10,000 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total value of $647,200.00. Following the completion of the transaction, the chief financial officer now directly owns 78,162 shares in the company, valued at approximately $5,058,644.64. This represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company's stock.

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.