Deutsche Bank AG Trims Stake in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Key Points

• Deutsche Bank AG reduced its stake in Equity Lifestyle Properties by 72.5%, now holding approximately $16.73 million worth of the stock.
• Institutional investors now own 97.21% of Equity Lifestyle Properties, with significant stakes increased by Bessemer Group Inc. and Farther Finance Advisors LLC.
• Equity Lifestyle Properties announced a quarterly dividend of $0.515, with a payout ratio of 106.74% and a dividend yield of 3.4%.

Deutsche Bank AG lessened its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 72.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 250,858 shares of the real estate investment trust's stock after selling 662,527 shares during the period. Deutsche Bank AG owned 0.13% of Equity Lifestyle Properties worth $16,732,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Equity Lifestyle Properties by 31.1% during the 4th quarter. Wells Fargo & Company MN now owns 84,332 shares of the real estate investment trust's stock valued at $5,617,000 after purchasing an additional 20,011 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Equity Lifestyle Properties during the 4th quarter valued at about $6,762,000. Bessemer Group Inc. boosted its stake 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 valued at $25,000 after purchasing an additional 210 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Equity Lifestyle Properties by 59.7% during the 4th quarter. Sterling Capital Management LLC now owns 11,216 shares of the real estate investment trust's stock valued at $747,000 after purchasing an additional 4,192 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Equity Lifestyle Properties by 156.9% during the 4th quarter. Barclays PLC now owns 522,262 shares of the real estate investment trust's stock valued at $34,782,000 after purchasing an additional 318,938 shares in the last quarter. Institutional investors own 97.21% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ELS. Wall Street Zen lowered shares of Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada dropped their price objective on shares of Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Compass Point raised shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price objective on the stock in a research note on Tuesday, July 22nd. Truist Financial set a $68.00 price objective on shares of Equity Lifestyle Properties and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley started coverage on shares of Equity Lifestyle Properties in a research note on Tuesday, July 15th. They set a "positive" rating and a $67.50 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $71.50.

Equity Lifestyle Properties Stock Up 0.6%

Equity Lifestyle Properties stock traded up $0.37 during trading hours on Friday, hitting $60.66. The stock had a trading volume of 1,219,570 shares, compared to its average volume of 1,966,618. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.24. The stock's 50-day moving average price is $61.54 and its 200-day moving average price is $64.08. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $76.60. The stock has a market capitalization of $11.76 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 3.22 and a beta of 0.70.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, meeting the consensus estimate of $0.69. Equity Lifestyle Properties had a net margin of 24.13% and a return on equity of 21.12%. The firm had revenue of $313.29 million during the quarter, compared to analysts' expectations of $377.59 million. During the same period in the previous year, the company earned $0.66 earnings per share. The firm's quarterly revenue was down .8% on a year-over-year basis. Equities research analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, September 26th. Equity Lifestyle Properties's payout ratio is presently 106.74%.

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.