Northern Trust Corp Boosts Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Northern Trust Corp raised its stake 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 & Exchange Commission. The fund owned 2,434,858 shares of the real estate investment trust's stock after purchasing an additional 735,580 shares during the period. Northern Trust Corp owned 1.27% of Equity LifeStyle Properties worth $162,162,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ELS. MassMutual Private Wealth & Trust FSB lifted its position in Equity LifeStyle Properties by 43.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust's stock worth $38,000 after buying an additional 171 shares during the last quarter. Bessemer Group Inc. grew its holdings 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 valued at $25,000 after purchasing an additional 210 shares during the last quarter. Carmel Capital Partners LLC raised its position in Equity LifeStyle Properties by 3.6% in the 4th quarter. Carmel Capital Partners LLC now owns 6,533 shares of the real estate investment trust's stock worth $435,000 after purchasing an additional 230 shares during the period. Corient Private Wealth LLC boosted its position in shares of Equity LifeStyle Properties by 1.0% during 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 during the period. Finally, Quadrant Capital Group LLC grew its stake in shares of Equity LifeStyle Properties by 7.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,256 shares of the real estate investment trust's stock valued at $217,000 after buying an additional 232 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock traded up $0.16 on Thursday, hitting $64.50. The company had a trading volume of 175,671 shares, compared to its average volume of 1,302,560. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15. Equity LifeStyle Properties, Inc. has a twelve month low of $58.86 and a twelve month high of $76.60. The company has a 50-day moving average price of $65.83 and a 200-day moving average price of $67.28. The firm has a market cap of $12.33 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 3.02 and a beta of 0.76.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last posted its earnings results on Monday, April 21st. The real estate investment trust reported $0.83 EPS for the quarter, meeting analysts' consensus estimates of $0.83. The firm had revenue of $327.21 million for the quarter, compared to analysts' expectations 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 last year, the firm earned $0.59 EPS. As a group, equities research analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.19%. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 106.74%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Evercore ISI decreased their target price on Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating for the company in a research report on Tuesday, January 28th. BMO Capital Markets decreased their price target 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. Robert W. Baird raised 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. Jefferies Financial Group assumed coverage on shares of Equity LifeStyle Properties in a report on Tuesday, April 8th. They set a "buy" rating and a $80.00 target price on the stock. Finally, Truist Financial cut 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 report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.