Easterly Investment Partners LLC Sells 85,000 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

Easterly Investment Partners LLC reduced its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,146 shares of the real estate investment trust's stock after selling 85,000 shares during the quarter. Equity Lifestyle Properties makes up about 1.1% of Easterly Investment Partners LLC's investment portfolio, making the stock its 25th biggest holding. Easterly Investment Partners LLC owned approximately 0.10% of Equity Lifestyle Properties worth $12,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of Equity Lifestyle Properties by 15.1% during the first quarter. Victory Capital Management Inc. now owns 5,330,066 shares of the real estate investment trust's stock valued at $355,515,000 after acquiring an additional 699,877 shares during the period. MQS Management LLC bought a new stake in Equity Lifestyle Properties in the first quarter worth approximately $483,000. CWM LLC grew its position in Equity Lifestyle Properties by 57.8% in the first quarter. CWM LLC now owns 3,209 shares of the real estate investment trust's stock worth $214,000 after acquiring an additional 1,175 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Equity Lifestyle Properties by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the real estate investment trust's stock worth $3,568,000 after acquiring an additional 500 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Equity Lifestyle Properties by 2.0% in the first quarter. Arizona State Retirement System now owns 52,486 shares of the real estate investment trust's stock worth $3,501,000 after acquiring an additional 1,020 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

Insider Activity at Equity Lifestyle Properties

In related 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 value of $647,200.00. Following the transaction, the chief financial officer directly owned 78,162 shares of the company's stock, valued at approximately $5,058,644.64. This trade represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

ELS has been the topic of several analyst reports. Barclays began coverage on shares of Equity Lifestyle Properties in a report on Thursday, May 29th. They issued an "equal weight" rating and a $70.00 price target on the stock. Jefferies Financial Group began coverage on shares of Equity Lifestyle Properties in a research note on Tuesday, April 8th. They issued a "buy" rating and a $80.00 target price on the stock. Morgan Stanley began coverage on shares of Equity Lifestyle Properties in a research note on Tuesday, July 15th. They issued a "positive" rating and a $67.50 target price on the stock. BMO Capital Markets reduced their target price on shares of 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. Finally, Truist Financial cut their price target on Equity Lifestyle Properties from $72.00 to $71.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.32.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS traded up $0.24 during trading on Friday, reaching $61.99. The company had a trading volume of 1,046,192 shares, compared to its average volume of 1,341,445. The company has a fifty day moving average of $62.77 and a two-hundred day moving average of $64.85. The stock has a market capitalization of $11.85 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 3.34 and a beta of 0.72. Equity Lifestyle Properties, Inc. has a 12 month low of $58.86 and a 12 month high of $76.60. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.14.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share for the quarter, meeting the consensus estimate of $0.83. Equity Lifestyle Properties had a return on equity of 21.99% and a net margin of 23.99%. The firm had revenue of $327.21 million during the quarter, compared to the consensus estimate of $391.34 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. Equities research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Friday, June 27th. Equity Lifestyle Properties's payout ratio is 106.74%.

Equity Lifestyle Properties 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.