MQS Management LLC Invests $483,000 in Equity Lifestyle Properties, Inc. (NYSE:ELS)

MQS Management LLC bought a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,245 shares of the real estate investment trust's stock, valued at approximately $483,000.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Equity Lifestyle Properties by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust's stock valued at $1,668,586,000 after purchasing an additional 388,888 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Equity Lifestyle Properties by 4.6% during the 1st quarter. Principal Financial Group Inc. now owns 6,349,010 shares of the real estate investment trust's stock valued at $423,479,000 after acquiring an additional 278,193 shares during the last quarter. Invesco Ltd. grew its holdings in Equity Lifestyle Properties by 592.7% during the 4th quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust's stock worth $260,955,000 after acquiring an additional 3,352,584 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Equity Lifestyle Properties by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,887,371 shares of the real estate investment trust's stock worth $258,536,000 after purchasing an additional 53,775 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Equity Lifestyle Properties by 0.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,201,077 shares of the real estate investment trust's stock valued at $213,192,000 after buying an additional 23,837 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Equity Lifestyle Properties Stock Performance

Shares of ELS opened at $61.49 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.03 and a quick ratio of 0.03. The firm's 50 day moving average is $63.02 and its 200-day moving average is $65.02. Equity Lifestyle Properties, Inc. has a 12-month low of $58.86 and a 12-month high of $76.60. The stock has a market capitalization of $11.76 billion, a P/E ratio of 31.86, a P/E/G ratio of 3.32 and a beta of 0.72.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share for the quarter, hitting the consensus estimate of $0.83. Equity Lifestyle Properties had a return on equity of 21.99% and a net margin of 23.99%. The business had revenue of $327.21 million during the quarter, compared to analyst estimates of $391.34 million. During the same period last year, the company posted $0.59 EPS. Equities research 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 disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Friday, June 27th. Equity Lifestyle Properties's payout ratio is 106.74%.

Insider Transactions at Equity Lifestyle Properties

In other news, CFO Paul Seavey sold 10,000 shares of Equity Lifestyle Properties stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $64.72, for a total transaction of $647,200.00. Following the transaction, the chief financial officer owned 78,162 shares in the company, valued at approximately $5,058,644.64. The trade was a 11.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on ELS shares. Jefferies Financial Group assumed coverage on shares of Equity Lifestyle Properties in a report on Tuesday, April 8th. They set a "buy" rating and a $80.00 target price on the stock. BMO Capital Markets reduced their price target on shares of Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Truist Financial cut their price objective 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 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. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.90.

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.

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