Bank of America Corp DE Lowers Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Bank of America Corp DE lowered its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,488,347 shares of the real estate investment trust's stock after selling 110,877 shares during the quarter. Bank of America Corp DE owned approximately 0.78% of Equity LifeStyle Properties worth $99,124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ELS. Vanguard Group Inc. raised its holdings in shares of Equity LifeStyle Properties by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust's stock valued at $1,668,586,000 after acquiring an additional 388,888 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Equity LifeStyle Properties by 172.0% in the 4th 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 acquiring an additional 3,838,809 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Equity LifeStyle Properties by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust's stock valued at $339,713,000 after acquiring an additional 147,332 shares in the last quarter. Invesco Ltd. raised its holdings 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 acquiring an additional 3,352,584 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Equity LifeStyle Properties by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,887,371 shares of the real estate investment trust's stock valued at $258,536,000 after acquiring an additional 53,775 shares in the last quarter. Institutional investors own 97.21% of the company's stock.

Equity LifeStyle Properties Trading Up 1.2%

ELS traded up $0.78 on Friday, hitting $64.60. 139,871 shares of the company were exchanged, compared to its average volume of 1,300,650. The firm has a fifty day simple moving average of $65.22 and a two-hundred day simple moving average of $67.04. 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 $58.86 and a 12 month high of $76.60. The stock has a market capitalization of $12.35 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 3.02 and a beta of 0.76.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. The business had revenue of $327.21 million for the quarter, compared to analyst estimates 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 period last year, the company earned $0.59 EPS. Sell-side analysts expect that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a $0.515 dividend. The ex-dividend date is Friday, June 27th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.19%. Equity LifeStyle Properties's dividend payout ratio is currently 106.74%.

Insider Activity at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 10,000 shares of Equity LifeStyle Properties stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $64.72, for a total transaction of $647,200.00. Following the sale, the chief financial officer now directly owns 78,162 shares in the company, valued at $5,058,644.64. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on ELS. Royal Bank of Canada lowered their price target on 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. Truist Financial lowered their price target on Equity LifeStyle Properties from $72.00 to $71.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Evercore ISI decreased their price objective on 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. BMO Capital Markets decreased their price objective on Equity LifeStyle Properties from $78.00 to $77.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a "hold" rating to a "buy" rating and raised their price objective for the company from $66.00 to $73.00 in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.