Vanguard Group Inc. Sells 115,180 Shares of Equity Lifestyle Properties, Inc. $ELS

Vanguard Group Inc. lowered its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,885,467 shares of the real estate investment trust’s stock after selling 115,180 shares during the quarter. Vanguard Group Inc. owned 12.84% of Equity Lifestyle Properties worth $1,510,548,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. lifted its position in shares of Equity Lifestyle Properties by 126.9% in the third quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 321 shares in the last quarter. Allworth Financial LP increased its stake in Equity Lifestyle Properties by 204.1% in the 2nd quarter. Allworth Financial LP now owns 660 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 443 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Equity Lifestyle Properties by 81.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 840 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 378 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in Equity Lifestyle Properties by 27.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,250 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 269 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Equity Lifestyle Properties by 21.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,974 shares of the real estate investment trust’s stock worth $120,000 after buying an additional 354 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Equity Lifestyle Properties Trading Up 0.6%

Equity Lifestyle Properties stock opened at $67.52 on Friday. The stock has a 50-day simple moving average of $63.12 and a 200 day simple moving average of $61.92. The stock has a market capitalization of $13.09 billion, a P/E ratio of 33.59, a PEG ratio of 3.73 and a beta of 0.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.05 and a current ratio of 0.04. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $70.35.

Equity Lifestyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be given a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, March 27th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 107.96%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ELS shares. Zacks Research downgraded Equity Lifestyle Properties from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. BMO Capital Markets reissued an “outperform” rating and set a $75.00 price target (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday. Truist Financial boosted their price target on Equity Lifestyle Properties from $66.00 to $69.00 and gave the stock a “hold” rating in a research report on Wednesday. UBS Group set a $67.00 price objective on Equity Lifestyle Properties and gave the stock a “buy” rating in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Equity Lifestyle Properties in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.27.

Equity Lifestyle Properties Profile

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.