Deutsche Bank AG Sells 1,323,836 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Deutsche Bank AG reduced its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 59.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 913,385 shares of the real estate investment trust's stock after selling 1,323,836 shares during the period. Deutsche Bank AG owned about 0.48% of Equity LifeStyle Properties worth $60,831,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Equity LifeStyle Properties by 172.0% during the 4th quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust's stock worth $404,319,000 after purchasing an additional 3,838,809 shares in the last quarter. Invesco Ltd. raised its stake in shares of Equity LifeStyle Properties by 592.7% during the 4th quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust's stock worth $260,955,000 after purchasing an additional 3,352,584 shares in the last quarter. Norges Bank purchased a new stake in shares of Equity LifeStyle Properties during the 4th quarter worth about $163,212,000. Northern Trust Corp raised its stake in shares of Equity LifeStyle Properties by 43.3% during the 4th quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust's stock worth $162,162,000 after purchasing an additional 735,580 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC purchased a new stake in shares of Equity LifeStyle Properties during the 4th quarter worth about $41,391,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Performance

ELS traded up $1.07 during midday trading on Friday, reaching $64.89. The company's stock had a trading volume of 858,769 shares, compared to its average volume of 1,303,123. The stock has a market cap of $12.41 billion, a P/E ratio of 33.27, a PEG ratio of 3.02 and a beta of 0.76. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. Equity LifeStyle Properties, Inc. has a twelve month low of $58.86 and a twelve month high of $76.60. The company has a fifty day simple moving average of $65.16 and a 200 day simple moving average of $66.96.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $327.21 million for the quarter, compared to analysts' expectations 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 in the previous year, the business posted $0.59 earnings per share. Research analysts expect that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Dividend Announcement

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 paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, June 27th. Equity LifeStyle Properties's dividend payout ratio is 106.74%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ELS shares. Robert W. Baird raised their price objective on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Truist Financial cut their price objective on Equity LifeStyle Properties from $72.00 to $71.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Royal Bank of Canada cut their price objective on Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 29th. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a research note on Tuesday, April 8th. They issued a "buy" rating and a $80.00 price objective on the stock. Finally, BMO Capital Markets cut their price objective on 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. 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $74.33.

Insider Activity at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 10,000 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $64.72, for a total value of $647,200.00. Following the transaction, the chief financial officer now owns 78,162 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

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.