Equity Lifestyle Properties, Inc. (NYSE:ELS) Stock Holdings Lowered by M&T Bank Corp

M&T Bank Corp trimmed its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 12.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,931 shares of the real estate investment trust's stock after selling 10,309 shares during the period. M&T Bank Corp's holdings in Equity Lifestyle Properties were worth $4,998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bessemer Group Inc. lifted its position in shares of Equity Lifestyle Properties by 121.4% during 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 in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Equity Lifestyle Properties by 78.7% during the first quarter. Farther Finance Advisors LLC now owns 1,442 shares of the real estate investment trust's stock worth $96,000 after purchasing an additional 635 shares in the last quarter. Signaturefd LLC lifted its position in shares of Equity Lifestyle Properties by 32.9% during the fourth quarter. Signaturefd LLC now owns 1,854 shares of the real estate investment trust's stock worth $123,000 after purchasing an additional 459 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Equity Lifestyle Properties by 351.6% during the first quarter. Blue Trust Inc. now owns 1,865 shares of the real estate investment trust's stock worth $124,000 after purchasing an additional 1,452 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Equity Lifestyle Properties by 137.5% during the first quarter. UMB Bank n.a. now owns 2,133 shares of the real estate investment trust's stock worth $142,000 after purchasing an additional 1,235 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on ELS. 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 report on Tuesday, April 22nd. Jefferies Financial Group began coverage on shares of Equity Lifestyle Properties in a research report on Tuesday, April 8th. They set a "buy" rating and a $80.00 target price on the stock. Truist Financial reduced their target price on shares of Equity Lifestyle Properties from $72.00 to $71.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Barclays started 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. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Equity Lifestyle Properties has an average rating of "Moderate Buy" and a consensus target price of $73.90.

Equity Lifestyle Properties Stock Performance

ELS stock traded down $0.33 during trading on Friday, hitting $61.49. 1,137,782 shares of the company's stock traded hands, compared to its average volume of 1,328,633. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.14. Equity Lifestyle Properties, Inc. has a 52 week low of $58.86 and a 52 week high of $76.60. The stock has a fifty day moving average price of $63.02 and a two-hundred day moving average price of $65.02. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 3.32 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 earnings per share for the quarter, meeting the consensus estimate of $0.83. Equity Lifestyle Properties had a net margin of 23.99% and a return on equity of 21.99%. The firm had revenue of $327.21 million during the quarter, compared to analyst estimates of $391.34 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. As a group, equities analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders 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 dividend yield of 3.35%. Equity Lifestyle Properties's dividend payout ratio is currently 106.74%.

Insider Activity at Equity Lifestyle Properties

In other 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 transaction of $647,200.00. Following the completion of the transaction, the chief financial officer owned 78,162 shares in the company, valued at approximately $5,058,644.64. This represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company's stock.

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.