Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Bridgefront Capital LLC

Bridgefront Capital LLC cut its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 36.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,135 shares of the real estate investment trust's stock after selling 5,849 shares during the quarter. Bridgefront Capital LLC's holdings in Equity LifeStyle Properties were worth $675,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Equity LifeStyle Properties by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust's stock worth $1,668,586,000 after acquiring an additional 388,888 shares during the period. Principal Financial Group Inc. lifted its stake in 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 buying an additional 3,838,809 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 worth $339,713,000 after buying an additional 147,332 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Equity LifeStyle Properties by 592.7% during the fourth 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 during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Equity LifeStyle Properties by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,887,371 shares of the real estate investment trust's stock worth $258,536,000 after acquiring an additional 53,775 shares during the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Paul Seavey sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total transaction of $647,200.00. Following the completion of the sale, the chief financial officer now owns 78,162 shares in the company, valued at approximately $5,058,644.64. The trade was a 11.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ELS shares. 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. Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, April 8th. They issued a "buy" rating and a $80.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating and upped their price target for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Robert W. Baird boosted 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. Finally, Truist Financial cut their target price on Equity LifeStyle Properties from $72.00 to $71.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $74.33.

Equity LifeStyle Properties Stock Up 0.9 %

ELS stock traded up $0.60 during midday trading on Friday, hitting $64.33. The company's stock had a trading volume of 942,489 shares, compared to its average volume of 1,308,538. Equity LifeStyle Properties, Inc. has a 52-week low of $58.86 and a 52-week high of $76.60. The firm has a 50-day simple moving average of $65.64 and a 200-day simple moving average of $67.19. 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 capitalization of $12.30 billion, a P/E ratio of 32.99, a PEG 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, meeting analysts' consensus estimates of $0.83. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. The company had revenue of $327.21 million for the quarter, compared to analyst estimates of $391.34 million. During the same quarter last year, the company earned $0.59 EPS. As a group, equities analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Friday, June 27th. Equity LifeStyle Properties's dividend payout ratio is presently 106.74%.

About Equity LifeStyle Properties

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.