Northern Trust Corp Acquires 735,580 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Northern Trust Corp raised its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 43.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,434,858 shares of the real estate investment trust's stock after buying an additional 735,580 shares during the quarter. Northern Trust Corp owned about 1.27% of Equity LifeStyle Properties worth $162,162,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. National Pension Service purchased a new position in shares of Equity LifeStyle Properties in the fourth quarter valued at $25,000. Bessemer Group Inc. lifted its position in Equity LifeStyle Properties by 121.4% during the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Equity LifeStyle Properties in the 4th quarter worth $30,000. Board of the Pension Protection Fund bought a new stake in shares of Equity LifeStyle Properties in the 4th quarter worth about $33,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Equity LifeStyle Properties by 43.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 171 shares in the last quarter. Institutional investors own 97.21% of the company's stock.

Equity LifeStyle Properties Trading Down 1.9 %

Shares of ELS traded down $1.21 during trading hours on Tuesday, reaching $63.77. 1,420,067 shares of the company traded hands, compared to its average volume of 1,304,758. The stock's fifty day moving average price is $66.00 and its 200 day moving average price is $67.32. 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 firm has a market cap of $12.19 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 3.02 and a beta of 0.76. 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 released its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. The company 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 period in the previous year, the company earned $0.59 EPS. Sell-side analysts forecast 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. Shareholders of record on Friday, June 27th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, June 27th. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 106.74%.

Analyst Upgrades and Downgrades

ELS has been the subject of several recent research reports. Jefferies Financial Group started 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. Royal Bank of Canada dropped their target price on Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating for the company in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating and increased their price target for the company from $66.00 to $73.00 in a report on Tuesday, January 21st. Robert W. Baird lifted their price objective 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. Finally, Truist Financial reduced their target price 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. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Equity LifeStyle Properties has a consensus rating of "Moderate Buy" and an average target price 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.