National Bank of Canada FI Sells 157,810 Shares of Equity Lifestyle Properties, Inc. $ELS

Key Points

• National Bank of Canada FI drastically reduced its stake in Equity Lifestyle Properties, Inc. by 99.5%, selling 157,810 shares and now holding only 812 shares worth $54,000.
• Vanguard Group Inc. and Principal Financial Group Inc. both increased their holdings in Equity Lifestyle Properties by 0.4% and 4.6%, respectively, reflecting continued institutional interest, as institutional investors own 97.21% of the company's stock.
• The company recently announced a quarterly dividend of $0.515 per share, representing a yield of 3.5%, with a payout ratio of 106.74%.

National Bank of Canada FI lessened its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 99.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 812 shares of the real estate investment trust's stock after selling 157,810 shares during the period. National Bank of Canada FI's holdings in Equity Lifestyle Properties were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Equity Lifestyle Properties by 0.4% in the first quarter. Vanguard Group Inc. now owns 25,151,151 shares of the real estate investment trust's stock worth $1,677,582,000 after purchasing an additional 97,306 shares during the period. Principal Financial Group Inc. increased its holdings in shares of 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 purchasing an additional 278,193 shares during the period. Victory Capital Management Inc. increased its stake in Equity Lifestyle Properties by 15.1% in the 1st quarter. Victory Capital Management Inc. now owns 5,330,066 shares of the real estate investment trust's stock worth $355,515,000 after acquiring an additional 699,877 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Equity Lifestyle Properties by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,597,191 shares of the real estate investment trust's stock worth $173,233,000 after acquiring an additional 43,861 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Equity Lifestyle Properties by 43.3% in the 4th quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust's stock worth $162,162,000 after acquiring an additional 735,580 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ELS. Barclays upgraded Equity Lifestyle Properties from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $70.00 to $67.00 in a research note on Tuesday, July 29th. Truist Financial set a $68.00 price objective on shares of Equity Lifestyle Properties and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Wells Fargo & Company decreased their price objective on shares of Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Morgan Stanley began coverage on shares of Equity Lifestyle Properties in a report on Tuesday, July 15th. They issued a "positive" rating and a $67.50 price target on the stock. Finally, Compass Point raised shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price target on the stock in a report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.50.

Equity Lifestyle Properties Stock Down 1.8%

Shares of NYSE ELS opened at $59.57 on Tuesday. 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 one year low of $58.15 and a one year high of $76.60. The firm's 50 day simple moving average is $61.48 and its two-hundred day simple moving average is $64.02. The stock has a market capitalization of $11.54 billion, a P/E ratio of 30.86, a PEG ratio of 3.24 and a beta of 0.70.

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

Equity Lifestyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.5%. Equity Lifestyle Properties's payout ratio is presently 106.74%.

Equity Lifestyle Properties 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.

Want to see what other hedge funds are holding ELS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.