Invesco Ltd. Sells 480,218 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

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

Several other large investors have also added to or reduced their stakes in ELS. Northern Trust Corp lifted its stake 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 acquiring an additional 735,580 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Equity Lifestyle Properties by 15.1% in the first quarter. Victory Capital Management Inc. now owns 5,330,066 shares of the real estate investment trust's stock valued at $355,515,000 after acquiring an additional 699,877 shares during the last quarter. Millennium Management LLC lifted its stake 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 acquiring an additional 671,703 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in Equity Lifestyle Properties in the fourth quarter valued at $36,520,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Equity Lifestyle Properties by 12.7% during the 1st quarter. JPMorgan Chase & Co. now owns 4,209,452 shares of the real estate investment trust's stock worth $280,771,000 after buying an additional 474,495 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Wall Street Analyst Weigh In

ELS has been the subject of a number of research reports. Barclays upgraded shares of Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $70.00 to $67.00 in a research note on Tuesday, July 29th. BMO Capital Markets cut their target price on shares of Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Royal Bank Of Canada cut their target price on shares of Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Compass Point upgraded shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 target price for the company in a research note on Tuesday, July 22nd. Finally, Truist Financial set a $68.00 target price on shares of Equity Lifestyle Properties and gave the stock a "buy" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Equity Lifestyle Properties currently has an average rating of "Moderate Buy" and an average target price of $71.50.

Equity Lifestyle Properties Stock Performance

Equity Lifestyle Properties stock traded up $0.37 during midday trading on Friday, hitting $60.66. The company's stock had a trading volume of 1,219,570 shares, compared to its average volume of 1,966,618. Equity Lifestyle Properties, Inc. has a 1-year low of $58.15 and a 1-year high of $76.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.04 and a quick ratio of 0.04. The company has a 50-day moving average price of $61.54 and a two-hundred day moving average price of $64.08. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 3.22 and a beta of 0.70.

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

Equity Lifestyle Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be issued a dividend of $0.515 per share. 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 payout ratio is 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.