Invesco Ltd. Sells 480,218 Shares of Equity Lifestyle Properties, Inc. $ELS

Invesco Ltd. reduced its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 12.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,438,023 shares of the real estate investment trust's stock after selling 480,218 shares during the period. Invesco Ltd. owned 1.80% of Equity Lifestyle Properties worth $229,316,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ELS. Bessemer Group Inc. lifted its holdings 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 valued at $25,000 after purchasing an additional 210 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Equity Lifestyle Properties by 78.7% in the first quarter. Farther Finance Advisors LLC now owns 1,442 shares of the real estate investment trust's stock valued at $96,000 after purchasing an additional 635 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Equity Lifestyle Properties by 351.6% in the first quarter. Blue Trust Inc. now owns 1,865 shares of the real estate investment trust's stock valued at $124,000 after purchasing an additional 1,452 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Equity Lifestyle Properties in the first quarter valued at about $141,000. Finally, UMB Bank n.a. lifted its holdings in shares of Equity Lifestyle Properties by 137.5% in the first quarter. UMB Bank n.a. now owns 2,133 shares of the real estate investment trust's stock valued at $142,000 after purchasing an additional 1,235 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity Lifestyle Properties Stock Performance

NYSE ELS traded down $0.78 during trading on Monday, reaching $59.91. 330,841 shares of the company's stock were exchanged, compared to its average volume of 1,527,755. The business has a 50 day moving average price of $61.54 and a 200-day moving average price of $64.06. The stock has a market capitalization of $11.61 billion, a P/E ratio of 31.05, a PEG ratio of 3.24 and a beta of 0.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.04 and a quick ratio of 0.04. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $76.60.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, hitting analysts' consensus estimates of $0.69. The firm had revenue of $313.29 million for the quarter, compared to the consensus estimate of $377.59 million. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%. The business's revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. Sell-side analysts forecast that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.06 annualized dividend and a dividend yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio is presently 106.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ELS shares. Barclays upgraded Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $70.00 to $67.00 in a report on Tuesday, July 29th. Wells Fargo & Company cut their price target on Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. BMO Capital Markets dropped their target price 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. Morgan Stanley assumed coverage on Equity Lifestyle Properties in a report on Tuesday, July 15th. They set a "positive" rating and a $67.50 target price on the stock. Finally, Royal Bank Of Canada dropped their target price on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $71.50.

About Equity Lifestyle Properties

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.