Vert Asset Management LLC Raises Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Vert Asset Management LLC increased its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 6.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,780 shares of the real estate investment trust's stock after purchasing an additional 5,264 shares during the period. Equity LifeStyle Properties makes up 1.9% of Vert Asset Management LLC's investment portfolio, making the stock its 19th largest holding. Vert Asset Management LLC's holdings in Equity LifeStyle Properties were worth $5,655,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Equity LifeStyle Properties by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust's stock worth $1,668,586,000 after purchasing an additional 388,888 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Equity LifeStyle Properties by 172.0% in the 4th quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust's stock worth $404,319,000 after purchasing an additional 3,838,809 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Equity LifeStyle Properties by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust's stock worth $339,713,000 after purchasing an additional 147,332 shares during the period. Invesco Ltd. grew its stake in shares of Equity LifeStyle Properties by 592.7% during the fourth quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust's stock valued at $260,955,000 after buying an additional 3,352,584 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Equity LifeStyle Properties by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,887,371 shares of the real estate investment trust's stock valued at $258,536,000 after acquiring an additional 53,775 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Paul Seavey sold 10,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.40% of the company's stock.

Equity LifeStyle Properties Stock Down 0.7%

Shares of NYSE ELS opened at $62.27 on Monday. The firm's 50-day moving average is $64.05 and its two-hundred day moving average is $66.21. The company has a market capitalization of $11.91 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 3.02 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a 12-month low of $58.86 and a 12-month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share for the quarter, meeting analysts' consensus estimates of $0.83. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. The company had revenue of $327.21 million for the quarter, compared to analyst estimates of $391.34 million. During the same quarter last year, the business earned $0.59 EPS. Equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Friday, June 27th. Equity LifeStyle Properties's payout ratio is 106.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial dropped 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 note on Thursday, May 1st. Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research report on Tuesday, April 8th. They set a "buy" rating and a $80.00 price target for the company. Barclays assumed coverage on shares of Equity LifeStyle Properties in a research note on Thursday, May 29th. They issued an "equal weight" rating and a $70.00 price objective on the stock. Finally, BMO Capital Markets decreased 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. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Equity LifeStyle Properties currently has a consensus rating of "Moderate Buy" and an average price target 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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