Easterly Investment Partners LLC Cuts Stake in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Easterly Investment Partners LLC lessened its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 30.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 192,146 shares of the real estate investment trust's stock after selling 85,000 shares during the period. Equity Lifestyle Properties accounts for approximately 1.1% of Easterly Investment Partners LLC's portfolio, making the stock its 25th largest holding. Easterly Investment Partners LLC owned approximately 0.10% of Equity Lifestyle Properties worth $12,816,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. grew its stake in shares of Equity Lifestyle Properties by 2.6% in the first quarter. Beese Fulmer Investment Management Inc. now owns 7,995 shares of the real estate investment trust's stock worth $533,000 after purchasing an additional 200 shares during the last quarter. Xponance Inc. grew its stake in shares of Equity Lifestyle Properties by 0.7% in the first quarter. Xponance Inc. now owns 31,133 shares of the real estate investment trust's stock worth $2,077,000 after purchasing an additional 203 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Equity Lifestyle Properties by 121.4% in the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 210 shares during the last quarter. GF Fund Management CO. LTD. boosted its position in Equity Lifestyle Properties by 6.8% during the 1st quarter. GF Fund Management CO. LTD. now owns 3,438 shares of the real estate investment trust's stock valued at $229,000 after acquiring an additional 218 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in Equity Lifestyle Properties by 1.0% during the 4th quarter. Corient Private Wealth LLC now owns 22,861 shares of the real estate investment trust's stock valued at $1,523,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Insider Buying and Selling

In other news, CFO Paul Seavey sold 10,000 shares of the stock in a transaction that occurred 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 directly owned 78,162 shares in the company, valued at approximately $5,058,644.64. This trade represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

Equity Lifestyle Properties Stock Performance

Shares of ELS stock traded up $0.06 during mid-day trading on Thursday, reaching $61.82. 1,736,397 shares of the company's stock traded hands, compared to its average volume of 1,340,729. The firm has a market capitalization of $11.82 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 3.33 and a beta of 0.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a 50 day moving average price of $62.82 and a two-hundred day moving average price of $64.91. Equity Lifestyle Properties, Inc. has a 12 month low of $58.86 and a 12 month high of $76.60.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly 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. The business had revenue of $327.21 million for the quarter, compared to analysts' expectations of $391.34 million. Equity Lifestyle Properties had a net margin of 23.99% and a return on equity of 21.99%. During the same quarter in the previous year, the company earned $0.59 EPS. On average, research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Friday, June 27th. Equity Lifestyle Properties's dividend payout ratio (DPR) is currently 106.74%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays assumed coverage on Equity Lifestyle Properties in a research report on Thursday, May 29th. They set an "equal weight" rating and a $70.00 price objective on the stock. Truist Financial lowered their target price on shares of Equity Lifestyle Properties from $72.00 to $71.00 and set a "buy" rating for the company in a report on Thursday, May 1st. BMO Capital Markets lowered 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. Morgan Stanley assumed coverage on shares of Equity Lifestyle Properties in a report on Tuesday. They set a "positive" rating and a $67.50 target price for the company. Finally, Jefferies Financial Group assumed coverage on shares of Equity Lifestyle Properties in a report on Tuesday, April 8th. They issued a "buy" rating and a $80.00 price objective for the company. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Equity Lifestyle Properties has a consensus rating of "Moderate Buy" and an average target price of $73.32.

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.