Equity Lifestyle Properties, Inc. $ELS Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd lowered its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 53.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,477 shares of the real estate investment trust’s stock after selling 35,714 shares during the period. IFM Investors Pty Ltd’s holdings in Equity Lifestyle Properties were worth $1,965,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Equity Lifestyle Properties by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust’s stock valued at $1,544,190,000 after purchasing an additional 592,013 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Equity Lifestyle Properties by 303.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock worth $966,648,000 after buying an additional 11,999,874 shares during the period. Cohen & Steers Inc. increased its stake in Equity Lifestyle Properties by 26.8% during the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock worth $643,331,000 after buying an additional 2,246,622 shares during the period. Geode Capital Management LLC lifted its holdings in Equity Lifestyle Properties by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 4,712,562 shares of the real estate investment trust’s stock worth $285,048,000 after buying an additional 100,364 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Equity Lifestyle Properties by 16.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,656,490 shares of the real estate investment trust’s stock worth $221,619,000 after buying an additional 509,442 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity Lifestyle Properties Price Performance

Shares of NYSE:ELS opened at $66.17 on Friday. The company has a market cap of $12.83 billion, a PE ratio of 33.09, a P/E/G ratio of 4.03 and a beta of 0.66. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $69.00. The firm has a 50-day simple moving average of $63.09 and a 200 day simple moving average of $63.81. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.29.

Equity Lifestyle Properties (NYSE:ELS) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.28). Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The business had revenue of $397.62 million during the quarter, compared to the consensus estimate of $395.71 million. During the same period in the prior year, the business earned $0.57 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that Equity Lifestyle Properties, Inc. will post 3.18 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a dividend of $0.5425 per share. The ex-dividend date is Friday, June 26th. This represents a $2.17 dividend on an annualized basis and a yield of 3.3%. Equity Lifestyle Properties’s payout ratio is currently 108.50%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ELS. Mizuho started coverage on Equity Lifestyle Properties in a research note on Tuesday, March 31st. They set an “outperform” rating and a $72.00 target price for the company. Wall Street Zen upgraded Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Deutsche Bank Aktiengesellschaft raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Wednesday, April 15th. Truist Financial set a $67.00 price objective on Equity Lifestyle Properties and gave the stock a “hold” rating in a report on Tuesday, May 5th. Finally, Zelman & Associates initiated coverage on Equity Lifestyle Properties in a research note on Monday, March 16th. They set an “underperform” rating and a $59.25 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.20.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.