Balyasny Asset Management L.P. lifted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 13.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 800,879 shares of the real estate investment trust's stock after purchasing an additional 96,911 shares during the quarter. Balyasny Asset Management L.P. owned 0.42% of Equity LifeStyle Properties worth $53,339,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in ELS. Vanguard Group Inc. grew its position in shares of Equity LifeStyle Properties by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust's stock worth $1,668,586,000 after buying an additional 388,888 shares during the period. Principal Financial Group Inc. grew 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 valued at $404,319,000 after acquiring an additional 3,838,809 shares during the period. JPMorgan Chase & Co. raised its position in shares of Equity LifeStyle Properties by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust's stock valued at $339,713,000 after purchasing an additional 147,332 shares during the period. Invesco Ltd. boosted its stake in shares of Equity LifeStyle Properties by 592.7% in the fourth quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust's stock worth $260,955,000 after acquiring an additional 3,352,584 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Equity LifeStyle Properties by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,887,371 shares of the real estate investment trust's stock valued at $258,536,000 after buying an additional 53,775 shares during the last quarter. Institutional investors own 97.21% of the company's stock.
Equity LifeStyle Properties Stock Performance
Shares of ELS stock traded up $0.60 during trading on Friday, reaching $64.33. 942,489 shares of the company's stock were exchanged, compared to its average volume of 1,308,538. The stock has a market capitalization of $12.30 billion, a PE ratio of 32.99, a PEG ratio of 3.02 and a beta of 0.76. The company has a quick ratio of 0.03, a current ratio of 0.02 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 firm's fifty day moving average price is $65.64 and its 200-day moving average price is $67.19.
Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last posted its earnings results on Monday, April 21st. The real estate investment trust reported $0.83 EPS for the quarter, hitting the consensus estimate of $0.83. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. The business had revenue of $327.21 million for the quarter, compared to the consensus estimate of $391.34 million. During the same period last year, the company earned $0.59 EPS. As a group, sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.
Equity LifeStyle Properties Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, June 27th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.20%. Equity LifeStyle Properties's dividend payout ratio is presently 106.74%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on ELS shares. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research note on Tuesday, April 8th. They set a "buy" rating and a $80.00 price target for the company. Evercore ISI cut their price target on shares of 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 reduced their price target on shares of Equity LifeStyle Properties from $72.00 to $71.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. BMO Capital Markets dropped their target price on shares of Equity LifeStyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, Robert W. Baird raised their price target on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.33.
Get Our Latest Stock Report on ELS
Insider Activity at Equity LifeStyle Properties
In other Equity LifeStyle Properties news, CFO Paul Seavey sold 10,000 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $64.72, for a total transaction of $647,200.00. Following the completion of the transaction, the chief financial officer now owns 78,162 shares of the company's stock, valued at approximately $5,058,644.64. This trade represents a 11.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.
About Equity LifeStyle Properties
(
Free Report)
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.
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