Hudson Bay Capital Management LP Acquires Shares of 374,683 Equity LifeStyle Properties, Inc. (NYSE:ELS)

Hudson Bay Capital Management LP purchased a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 374,683 shares of the real estate investment trust's stock, valued at approximately $24,954,000. Hudson Bay Capital Management LP owned about 0.20% of Equity LifeStyle Properties as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Equity LifeStyle Properties by 43.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 171 shares during the period. Bessemer Group Inc. increased its position in Equity LifeStyle Properties by 121.4% during the 4th quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 210 shares during the period. Carmel Capital Partners LLC raised its stake in shares of Equity LifeStyle Properties by 3.6% during the 4th quarter. Carmel Capital Partners LLC now owns 6,533 shares of the real estate investment trust's stock worth $435,000 after buying an additional 230 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Equity LifeStyle Properties by 1.0% in the fourth quarter. Corient Private Wealth LLC now owns 22,861 shares of the real estate investment trust's stock valued at $1,523,000 after buying an additional 230 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in Equity LifeStyle Properties by 7.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,256 shares of the real estate investment trust's stock worth $217,000 after acquiring an additional 232 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Insider Buying and Selling at Equity LifeStyle Properties

In related news, CFO Paul Seavey sold 10,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was 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 in the company, valued at approximately $5,058,644.64. This represents a 11.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.

Equity LifeStyle Properties Stock Up 0.9 %

Shares of NYSE ELS opened at $64.33 on Friday. The firm has a market cap of $12.30 billion, a P/E ratio of 32.99, a price-to-earnings-growth ratio of 3.02 and a beta of 0.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02. Equity LifeStyle Properties, Inc. has a 1 year low of $58.86 and a 1 year high of $76.60. The firm's 50 day moving average price is $65.64 and its 200 day moving average price is $67.19.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its earnings results 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. The firm had revenue of $327.21 million for the quarter, compared to the consensus estimate of $391.34 million. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. During the same period in the prior year, the business posted $0.59 earnings per share. As a group, sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Friday, June 27th. Equity LifeStyle Properties's payout ratio is currently 106.74%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ELS. Robert W. Baird upped their price target on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Truist Financial decreased their price target on 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. Royal Bank of Canada decreased their target price on Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group began coverage on Equity LifeStyle Properties in a research report on Tuesday, April 8th. They issued a "buy" rating and a $80.00 price target for the company. Finally, BMO Capital Markets decreased their price objective on shares of Equity LifeStyle Properties from $78.00 to $77.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Equity LifeStyle Properties presently has an average rating of "Moderate Buy" and an average price target of $74.33.

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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