Millennium Management LLC Increases Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Millennium Management LLC grew its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 221.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 975,391 shares of the real estate investment trust's stock after purchasing an additional 671,703 shares during the period. Millennium Management LLC owned about 0.51% of Equity LifeStyle Properties worth $64,961,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Equity LifeStyle Properties by 1.1% during the 4th quarter. Janus Henderson Group PLC now owns 1,235,629 shares of the real estate investment trust's stock worth $82,259,000 after acquiring an additional 13,779 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Equity LifeStyle Properties in the 4th quarter valued at $24,954,000. Gotham Asset Management LLC acquired a new stake in shares of Equity LifeStyle Properties in the 4th quarter valued at $1,382,000. EP Wealth Advisors LLC increased its stake in shares of Equity LifeStyle Properties by 7.8% in the 4th quarter. EP Wealth Advisors LLC now owns 5,845 shares of the real estate investment trust's stock valued at $389,000 after purchasing an additional 422 shares during the last quarter. Finally, Crestline Management LP acquired a new position in shares of Equity LifeStyle Properties during the 4th quarter worth $1,912,000. Institutional investors and hedge funds own 97.21% of the company's stock.

Insider Activity

In related news, CFO Paul Seavey sold 10,000 shares of the business's stock in a transaction 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 transaction, the chief financial officer now owns 78,162 shares in the company, valued at $5,058,644.64. The trade was a 11.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by company insiders.

Equity LifeStyle Properties Trading Down 1.1%

Shares of Equity LifeStyle Properties stock traded down $0.69 during midday trading on Wednesday, reaching $64.65. The company had a trading volume of 172,756 shares, compared to its average volume of 1,294,225. The firm has a market cap of $12.36 billion, a PE ratio of 33.15, a P/E/G ratio of 3.02 and a beta of 0.76. The stock has a fifty day moving average price of $65.12 and a 200 day moving average price of $66.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a fifty-two week low of $58.86 and a fifty-two week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.83 EPS for the quarter, meeting analysts' consensus estimates of $0.83. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. 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 posted $0.59 EPS. On average, equities analysts anticipate 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. This represents a $2.06 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, June 27th. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 106.74%.

Analyst Ratings Changes

ELS has been the subject of several research analyst reports. Evercore ISI lowered 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 note on Tuesday, January 28th. Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a research report on Tuesday, April 8th. They set a "buy" rating and a $80.00 price objective for the company. Royal Bank of Canada dropped their price objective on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 29th. 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 report on Thursday, May 1st. Finally, BMO Capital Markets reduced their price objective on Equity LifeStyle Properties from $78.00 to $77.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.33.

Equity LifeStyle Properties Company 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.