Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Acquired by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,986 shares of the real estate investment trust's stock after purchasing an additional 5,788 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Equity LifeStyle Properties were worth $2,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of ELS. Wilmington Savings Fund Society FSB acquired a new position in shares of Equity LifeStyle Properties in the 3rd quarter valued at $72,000. Destination Wealth Management purchased a new stake in shares of Equity LifeStyle Properties in the third quarter valued at about $262,000. Tidal Investments LLC raised its holdings in shares of Equity LifeStyle Properties by 15.8% in the third quarter. Tidal Investments LLC now owns 112,115 shares of the real estate investment trust's stock valued at $7,998,000 after buying an additional 15,310 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Equity LifeStyle Properties by 7.9% during the third quarter. Franklin Resources Inc. now owns 809,801 shares of the real estate investment trust's stock worth $55,034,000 after buying an additional 59,243 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Equity LifeStyle Properties by 56.5% during the third quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust's stock worth $159,232,000 after buying an additional 805,681 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ELS. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, April 8th. They set a "buy" rating and a $80.00 price target on the stock. Truist Financial upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Evercore ISI reduced their price target on Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada dropped their price objective on Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 29th. Finally, BMO Capital Markets reduced their target price on Equity LifeStyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Three equities research 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 company's stock. Based on data from MarketBeat, Equity LifeStyle Properties currently has a consensus rating of "Moderate Buy" and an average price target of $74.33.

Equity LifeStyle Properties Price Performance

NYSE:ELS traded up $0.72 during mid-day trading on Monday, hitting $63.78. 305,032 shares of the company's stock traded hands, compared to its average volume of 1,299,191. Equity LifeStyle Properties, Inc. has a 1 year low of $58.86 and a 1 year high of $76.60. The company has a market cap of $12.19 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02. The firm's 50 day simple moving average is $66.25 and its 200 day simple moving average is $67.51.

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 for the quarter, hitting 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 business had revenue of $327.21 million during the quarter, compared to analysts' expectations of $391.34 million. During the same period last year, the company posted $0.59 EPS. Sell-side analysts expect that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $0.515 dividend. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. This represents a $2.06 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, March 28th. Equity LifeStyle Properties's dividend payout ratio is currently 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.