KLP Kapitalforvaltning AS Sells 6,300 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

KLP Kapitalforvaltning AS reduced its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 10.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,500 shares of the real estate investment trust's stock after selling 6,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Equity Lifestyle Properties were worth $3,659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. raised its position in shares of 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 worth $533,000 after purchasing an additional 200 shares during the period. Xponance Inc. increased its stake in Equity Lifestyle Properties by 0.7% during the 1st quarter. Xponance Inc. now owns 31,133 shares of the real estate investment trust's stock valued at $2,077,000 after purchasing an additional 203 shares in the last quarter. Bessemer Group Inc. increased its stake in Equity Lifestyle Properties by 121.4% during 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. raised its holdings in Equity Lifestyle Properties by 6.8% during the first quarter. GF Fund Management CO. LTD. now owns 3,438 shares of the real estate investment trust's stock worth $229,000 after buying an additional 218 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Equity Lifestyle Properties by 7.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,256 shares of the real estate investment trust's stock valued at $217,000 after buying an additional 232 shares in the last quarter. Institutional investors own 97.21% of the company's stock.

Wall Street Analyst Weigh In

ELS has been the subject of a number of analyst reports. Morgan Stanley assumed coverage on shares of Equity Lifestyle Properties in a report on Tuesday, July 15th. They set a "positive" rating and a $67.50 price objective for the company. 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. Jefferies Financial Group started coverage on Equity Lifestyle Properties in a report on Tuesday, April 8th. They issued a "buy" rating and a $80.00 target price on the stock. Royal Bank Of Canada decreased their price target on Equity Lifestyle Properties from $67.00 to $66.00 and set a "sector perform" rating for the company in a report on Wednesday. Finally, 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 research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $72.05.

Insider Activity at Equity Lifestyle Properties

In related news, CFO Paul Seavey sold 10,000 shares of Equity Lifestyle Properties stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $64.72, for a total value of $647,200.00. Following the completion of the sale, the chief financial officer owned 78,162 shares of the company's stock, valued at approximately $5,058,644.64. This trade represents a 11.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Equity Lifestyle Properties Stock Performance

Shares of ELS stock opened at $59.56 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.03 and a current ratio of 0.04. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 3.23 and a beta of 0.72. Equity Lifestyle Properties, Inc. has a 52 week low of $58.86 and a 52 week high of $76.60. The firm's 50-day simple moving average is $62.50 and its two-hundred day simple moving average is $64.68.

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

Equity Lifestyle Properties Dividend Announcement

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 was Friday, June 27th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.46%. Equity Lifestyle Properties's dividend payout ratio is presently 106.74%.

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.

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