Envestnet Asset Management Inc. Decreases Stock Position in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Envestnet Asset Management Inc. reduced its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 23.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 0.15% of Equity Lifestyle Properties worth $18,564,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ELS. Beese Fulmer Investment Management Inc. grew its position in Equity Lifestyle Properties by 2.6% during the first quarter. Beese Fulmer Investment Management Inc. now owns 7,995 shares of the real estate investment trust's stock valued at $533,000 after acquiring an additional 200 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Equity Lifestyle Properties by 121.4% in 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. GF Fund Management CO. LTD. grew its holdings in shares of 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 purchasing an additional 218 shares during the last quarter. Corient Private Wealth LLC raised its position in Equity Lifestyle Properties by 1.0% in the 4th quarter. Corient Private Wealth LLC now owns 22,861 shares of the real estate investment trust's stock worth $1,523,000 after purchasing an additional 230 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Equity Lifestyle Properties by 7.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,256 shares of the real estate investment trust's stock worth $217,000 after purchasing an additional 232 shares during the period. 97.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ELS. Morgan Stanley assumed coverage on Equity Lifestyle Properties in a research note on Tuesday. They set a "positive" rating and a $67.50 price objective on the stock. BMO Capital Markets decreased their price objective on Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Truist Financial lowered their price objective on Equity Lifestyle Properties from $72.00 to $71.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group started coverage on shares of Equity Lifestyle Properties in a research report on Tuesday, April 8th. They issued a "buy" rating and a $80.00 target price on the stock. Finally, Barclays initiated coverage on shares of Equity Lifestyle Properties in a research report on Thursday, May 29th. They set an "equal weight" rating and a $70.00 price target for the company. Four investment 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $73.32.

Insider Transactions at Equity Lifestyle Properties

In other Equity Lifestyle Properties news, CFO Paul Seavey sold 10,000 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $5,058,644.64. This represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Equity Lifestyle Properties Stock Up 0.4%

ELS stock traded up $0.24 during midday trading on Friday, hitting $61.99. The company's stock had a trading volume of 1,046,192 shares, compared to its average volume of 1,339,556. The firm's 50-day moving average is $62.82 and its 200-day moving average is $64.91. 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, Inc. has a 12 month low of $58.86 and a 12 month high of $76.60. The company has a market cap of $11.85 billion, a PE ratio of 32.12, a P/E/G ratio of 3.33 and a beta of 0.72.

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 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $391.34 million. During the same period in the prior year, the company posted $0.59 earnings per share. On average, equities research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The business also recently announced 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 of this dividend was Friday, June 27th. This represents a $2.06 annualized dividend and a yield of 3.32%. Equity Lifestyle Properties's dividend payout ratio (DPR) 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.