Equity Lifestyle Properties, Inc. $ELS Shares Sold by KBC Group NV

Key Points

• KBC Group NV trimmed its stake in Equity Lifestyle Properties by 22.6% in Q4, selling 20,996 shares and leaving 71,910 shares valued at about $4.36 million per its latest 13F filing.
• Equity Lifestyle raised its quarterly dividend to $0.5425 (annualized $2.17), a 3.3% yield, though the dividend payout ratio is a high 107.96%.
• Analysts rate ELS a consensus "Moderate Buy" with an average price target of $69.55 (breakdown: 1 Strong Buy, 8 Buy, 6 Hold, 1 Sell), including recent upgrades from Deutsche Bank and Bank of America.

KBC Group NV lessened its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,910 shares of the real estate investment trust's stock after selling 20,996 shares during the period. KBC Group NV's holdings in Equity Lifestyle Properties were worth $4,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Private Advisor Group LLC grew its position in Equity Lifestyle Properties by 3.7% during the 3rd quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust's stock worth $300,000 after purchasing an additional 178 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of Equity Lifestyle Properties by 1.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 14,229 shares of the real estate investment trust's stock valued at $864,000 after buying an additional 220 shares during the period. M&G PLC boosted its stake in shares of Equity Lifestyle Properties by 8.2% in the third quarter. M&G PLC now owns 3,293 shares of the real estate investment trust's stock worth $201,000 after buying an additional 249 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Equity Lifestyle Properties by 27.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,250 shares of the real estate investment trust's stock worth $76,000 after buying an additional 269 shares during the last quarter. Finally, Gabelli Funds LLC grew its holdings in Equity Lifestyle Properties by 1.3% during the third quarter. Gabelli Funds LLC now owns 21,327 shares of the real estate investment trust's stock worth $1,295,000 after acquiring an additional 283 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Stock Performance

NYSE ELS opened at $65.35 on Monday. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 3.64 and a beta of 0.76. The stock has a 50-day moving average of $65.82 and a 200 day moving average of $63.36. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.30. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $69.00.

Equity Lifestyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 27th were paid a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, March 27th. This is a positive change from Equity Lifestyle Properties's previous quarterly dividend of $0.52. Equity Lifestyle Properties's dividend payout ratio is currently 107.96%.

Analyst Upgrades and Downgrades

ELS has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Equity Lifestyle Properties in a research report on Thursday, January 22nd. Wall Street Zen upgraded Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Deutsche Bank Aktiengesellschaft raised shares of Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 target price for the company in a report on Wednesday, April 15th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $70.00 target price on shares of Equity Lifestyle Properties in a research note on Friday, January 30th. Finally, Bank of America raised shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $76.00 price target on the stock in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.55.

Insider Activity

In other news, Director David J. Contis sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total transaction of $201,660.00. Following the transaction, the director owned 14,890 shares in the company, valued at $1,000,905.80. This trade represents a 16.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.80% of the stock is owned by company insiders.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc NYSE: ELS is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company's portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.

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