Crestline Management LP Makes New $1.91 Million Investment in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Crestline Management LP bought a new position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 28,705 shares of the real estate investment trust's stock, valued at approximately $1,912,000.

Several other hedge funds and other institutional investors have also modified their holdings of ELS. MassMutual Private Wealth & Trust FSB increased its position in Equity LifeStyle Properties by 43.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust's stock worth $38,000 after buying an additional 171 shares during the period. Bessemer Group Inc. boosted its position in shares of Equity LifeStyle Properties by 121.4% in the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 210 shares during the period. Carmel Capital Partners LLC grew its stake in shares of Equity LifeStyle Properties by 3.6% in the fourth quarter. Carmel Capital Partners LLC now owns 6,533 shares of the real estate investment trust's stock worth $435,000 after acquiring an additional 230 shares during the last quarter. Corient Private Wealth LLC increased its position in Equity LifeStyle Properties by 1.0% during the fourth quarter. Corient Private Wealth LLC now owns 22,861 shares of the real estate investment trust's stock worth $1,523,000 after acquiring an additional 230 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Equity LifeStyle Properties by 7.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,256 shares of the real estate investment trust's stock valued at $217,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 10,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total transaction of $647,200.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS traded down $1.03 during trading on Tuesday, reaching $62.56. The stock had a trading volume of 464,266 shares, compared to its average volume of 1,305,246. 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 $11.96 billion, a PE ratio of 32.08, a P/E/G ratio of 3.02 and a beta of 0.76. The business's 50-day moving average price is $65.54 and its 200 day moving average price is $67.14. Equity LifeStyle Properties, Inc. has a 52 week low of $58.86 and a 52 week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released 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 business had revenue of $327.21 million during the quarter, compared to analysts' expectations of $391.34 million. During the same period in the previous year, the business posted $0.59 earnings per share. As a group, equities analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, June 27th. Equity LifeStyle Properties's dividend payout ratio is currently 106.74%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELS. BMO Capital Markets cut their price objective on shares of Equity LifeStyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Evercore ISI lowered their price target on Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating on the stock in a research note on Tuesday, January 28th. Truist Financial cut their price target 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. Royal Bank of Canada decreased their price objective 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. Finally, Robert W. Baird boosted their price objective 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.