Pinebridge Investments L.P. Has $4.14 Million Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Pinebridge Investments L.P. increased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 140.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,160 shares of the real estate investment trust's stock after buying an additional 36,323 shares during the quarter. Pinebridge Investments L.P.'s holdings in Equity LifeStyle Properties were worth $4,140,000 as of its most recent filing with the Securities and Exchange Commission.

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

Equity LifeStyle Properties Stock Performance

Shares of Equity LifeStyle Properties stock traded down $0.49 during trading on Thursday, hitting $64.29. 279,305 shares of the stock were exchanged, compared to its average volume of 1,300,662. 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 stock's fifty day moving average is $66.15 and its 200 day moving average is $67.44. The stock has a market cap of $12.29 billion, a PE ratio of 32.96, a P/E/G ratio of 3.02 and a beta of 0.72. 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 announced its earnings results 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 analyst estimates 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 prior year, the firm posted $0.59 EPS. As a group, sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Announces Dividend

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

Analysts Set New Price Targets

ELS has been the topic of a number of recent research reports. BMO Capital Markets reduced their price objective on Equity LifeStyle Properties from $78.00 to $77.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI reduced their price target on Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating on the stock in a research report on Tuesday, January 28th. Truist Financial lowered their price objective on shares of Equity LifeStyle Properties from $72.00 to $71.00 and set a "buy" rating for the company in a research report on Thursday. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a research report on Tuesday, April 8th. They set a "buy" rating and a $80.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and upped their target price for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Three 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.