Freestone Grove Partners LP Makes New Investment in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Freestone Grove Partners LP bought a new stake in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,477 shares of the real estate investment trust's stock, valued at approximately $565,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Equity LifeStyle Properties by 1.6% in 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 during the last quarter. Principal Financial Group Inc. increased its stake in shares of Equity LifeStyle Properties by 172.0% in the fourth quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust's stock valued at $404,319,000 after buying an additional 3,838,809 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Equity LifeStyle Properties by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust's stock valued at $339,713,000 after buying an additional 147,332 shares during the last quarter. Invesco Ltd. lifted its position 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 buying an additional 3,352,584 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Equity LifeStyle Properties by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,887,371 shares of the real estate investment trust's stock worth $258,536,000 after acquiring an additional 53,775 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

Equity LifeStyle Properties Price Performance

Shares of ELS opened at $65.68 on Friday. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. The stock has a market cap of $12.55 billion, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 3.02 and a beta of 0.76. The stock's 50-day moving average price is $66.05 and its two-hundred day moving average price is $67.38. Equity LifeStyle Properties, Inc. has a 1 year low of $58.86 and a 1 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 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.83. The firm had revenue of $327.21 million during the quarter, compared to analysts' expectations of $391.34 million. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. During the same quarter in the previous year, the company earned $0.59 earnings per share. On average, equities analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, June 27th. Equity LifeStyle Properties's payout ratio is presently 106.74%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ELS shares. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, April 8th. They issued a "buy" rating and a $80.00 target price for the company. Robert W. Baird upped their price objective on Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Royal Bank of Canada lowered their target price on Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 29th. Truist Financial dropped their target price on Equity LifeStyle Properties from $72.00 to $71.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating and raised their price target for the company from $66.00 to $73.00 in a report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.33.

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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