Nuveen Asset Management LLC Reduces Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Nuveen Asset Management LLC cut its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 26.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,431,168 shares of the real estate investment trust's stock after selling 886,387 shares during the quarter. Nuveen Asset Management LLC owned about 1.27% of Equity LifeStyle Properties worth $161,916,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ELS. National Pension Service acquired a new position in shares of Equity LifeStyle Properties during the 4th quarter worth approximately $25,000. Bessemer Group Inc. increased its holdings 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 acquiring an additional 210 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in Equity LifeStyle Properties in the 4th quarter valued at $30,000. Board of the Pension Protection Fund acquired a new position in Equity LifeStyle Properties in the 4th quarter valued at $33,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings 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 valued at $38,000 after buying an additional 171 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELS has been the topic of a number of research reports. Truist Financial decreased their price objective 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. Royal Bank of Canada cut their target price on Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 29th. Evercore ISI cut their target price on Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating and upped their target price for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Finally, BMO Capital Markets cut their target price on 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. 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $74.33.

Equity LifeStyle Properties Trading Up 0.8%

NYSE ELS traded up $0.51 during trading hours on Monday, hitting $65.37. 797,934 shares of the company's stock were exchanged, compared to its average volume of 1,301,103. The stock has a 50-day simple moving average of $65.16 and a 200 day simple moving average of $66.96. Equity LifeStyle Properties, Inc. has a 1-year low of $58.86 and a 1-year high of $76.60. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 33.52, 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 (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 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 period in the prior year, the firm earned $0.59 earnings per share. On average, equities analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity LifeStyle Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.06 annualized dividend and a yield of 3.15%. Equity LifeStyle Properties's dividend payout ratio is currently 106.74%.

Insiders Place Their Bets

In related news, CFO Paul Seavey sold 10,000 shares of the stock in a transaction dated 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 owns 78,162 shares of the company's stock, valued at approximately $5,058,644.64. This represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company's stock.

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.