Equity Lifestyle Properties, Inc. (NYSE:ELS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 23.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 278,317 shares of the real estate investment trust's stock after selling 84,921 shares during the quarter. Envestnet Asset Management Inc. owned about 0.15% of Equity Lifestyle Properties worth $18,564,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ELS. Invesco Ltd. lifted its holdings in 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 valued at $260,955,000 after acquiring an additional 3,352,584 shares during the last quarter. Norges Bank purchased a new position in Equity Lifestyle Properties in the fourth quarter valued at $163,212,000. Northern Trust Corp increased its holdings in Equity Lifestyle Properties by 43.3% in the fourth quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust's stock valued at $162,162,000 after buying an additional 735,580 shares during the last quarter. Millennium Management LLC increased its holdings in Equity Lifestyle Properties by 221.2% in the fourth quarter. Millennium Management LLC now owns 975,391 shares of the real estate investment trust's stock valued at $64,961,000 after buying an additional 671,703 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in Equity Lifestyle Properties in the fourth quarter valued at $36,520,000. Hedge funds and other institutional investors own 97.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ELS shares. Jefferies Financial Group started coverage on Equity Lifestyle Properties in a report on Tuesday, April 8th. They set a "buy" rating and a $80.00 price objective on the stock. BMO Capital Markets dropped their price objective on Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Truist Financial dropped their price objective on Equity Lifestyle Properties from $72.00 to $71.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays initiated coverage on shares of Equity Lifestyle Properties in a research note on Thursday, May 29th. They set an "equal weight" rating and a $70.00 target price for the company. Finally, Morgan Stanley initiated coverage on shares of Equity Lifestyle Properties in a research note on Tuesday, July 15th. They set a "positive" rating and a $67.50 target price for the company. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Equity Lifestyle Properties has an average rating of "Moderate Buy" and a consensus target price of $73.32.

Insiders Place Their Bets

In other Equity Lifestyle Properties news, CFO Paul Seavey sold 10,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total value of $647,200.00. Following the completion of the transaction, the chief financial officer directly owned 78,162 shares of the company's stock, valued at $5,058,644.64. This represents a 11.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.40% of the company's stock.

Equity Lifestyle Properties Price Performance

Shares of ELS traded up $0.24 during mid-day trading on Friday, reaching $61.99. 1,046,192 shares of the company's stock were exchanged, compared to its average volume of 1,341,445. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.14. The company has a 50-day simple moving average of $62.77 and a two-hundred day simple moving average of $64.86. Equity Lifestyle Properties, Inc. has a 52-week low of $58.86 and a 52-week high of $76.60. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 3.34 and a beta of 0.72.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released 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. The firm had revenue of $327.21 million during 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 period in the previous year, the company earned $0.59 EPS. On average, sell-side analysts predict that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a dividend of $0.515 per share. The ex-dividend date was Friday, June 27th. This represents a $2.06 dividend on an annualized basis and a yield of 3.32%. Equity Lifestyle Properties's dividend payout ratio (DPR) 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.