Massachusetts Financial Services Co. MA Sells 883,583 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

Massachusetts Financial Services Co. MA reduced its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 27.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,317,494 shares of the real estate investment trust's stock after selling 883,583 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.21% of Equity Lifestyle Properties worth $154,577,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ELS. Principal Financial Group Inc. grew its position in Equity Lifestyle Properties by 4.6% in the first quarter. Principal Financial Group Inc. now owns 6,349,010 shares of the real estate investment trust's stock worth $423,479,000 after acquiring an additional 278,193 shares in the last quarter. QRG Capital Management Inc. grew its position in Equity Lifestyle Properties by 11.1% in the first quarter. QRG Capital Management Inc. now owns 11,602 shares of the real estate investment trust's stock worth $774,000 after acquiring an additional 1,162 shares in the last quarter. Farther Finance Advisors LLC grew its position in 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 worth $96,000 after acquiring an additional 635 shares in the last quarter. Dupont Capital Management Corp grew its position in Equity Lifestyle Properties by 33.8% in the first quarter. Dupont Capital Management Corp now owns 145,004 shares of the real estate investment trust's stock worth $9,672,000 after acquiring an additional 36,655 shares in the last quarter. Finally, KBC Group NV grew its position in Equity Lifestyle Properties by 3.2% in the first quarter. KBC Group NV now owns 145,262 shares of the real estate investment trust's stock worth $9,689,000 after acquiring an additional 4,450 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Equity Lifestyle Properties

In related news, CFO Paul Seavey sold 10,000 shares of the stock in a transaction dated 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 of the company's stock, valued at $5,058,644.64. This represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ELS has been the subject of several research reports. Barclays initiated coverage on shares of Equity Lifestyle Properties in a research report on Thursday, May 29th. They issued an "equal weight" rating and a $70.00 target price for the company. Jefferies Financial Group initiated 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 for the company. 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 report on Tuesday, April 22nd. Morgan Stanley initiated coverage on shares of Equity Lifestyle Properties in a research report on Tuesday. They issued a "positive" rating and a $67.50 target price for the company. Finally, Truist Financial cut their price target on shares of 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. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.32.

Equity Lifestyle Properties Trading Up 0.1%

Shares of NYSE:ELS traded up $0.06 during midday trading on Thursday, hitting $61.82. 1,736,397 shares of the stock traded hands, compared to its average volume of 1,340,729. The stock has a market capitalization of $11.82 billion, a PE ratio of 32.03, a P/E/G ratio of 3.33 and a beta of 0.72. The business's 50 day moving average is $62.82 and its two-hundred day moving average is $64.91. 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 one year low of $58.86 and a one year high of $76.60.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.83 EPS for the quarter, meeting the consensus estimate of $0.83. The firm had revenue of $327.21 million during the quarter, compared to the consensus estimate of $391.34 million. Equity Lifestyle Properties had a net margin of 23.99% and a return on equity of 21.99%. During the same period in the prior year, the firm posted $0.59 earnings per share. As a group, research analysts forecast 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 was paid on Friday, July 11th. Investors of record on Friday, June 27th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, June 27th. Equity Lifestyle Properties's payout ratio is currently 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.