Equity Lifestyle Properties (NYSE:ELS) Director Sells $201,660.00 in Stock

Equity Lifestyle Properties, Inc. (NYSE:ELS) Director David Contis sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total value of $201,660.00. Following the completion of the transaction, the director directly owned 14,890 shares of the company’s stock, valued at approximately $1,000,905.80. The trade was a 16.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Equity Lifestyle Properties Price Performance

Shares of Equity Lifestyle Properties stock traded down $1.01 during midday trading on Friday, hitting $64.21. 2,427,645 shares of the company were exchanged, compared to its average volume of 2,064,729. The firm has a 50 day simple moving average of $65.66 and a 200-day simple moving average of $62.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market cap of $12.45 billion, a P/E ratio of 31.94, a PEG ratio of 3.69 and a beta of 0.75. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $69.15.

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 issued a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, March 27th. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.4%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 107.96%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ELS. Bank of America raised shares of Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equity Lifestyle Properties in a report on Thursday, January 22nd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $70.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a research note on Friday, February 27th. Finally, Robert W. Baird set a $73.00 target price on Equity Lifestyle Properties in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.63.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ELS. Allspring Global Investments Holdings LLC bought a new stake in Equity Lifestyle Properties during the 3rd quarter worth about $1,243,000. AEGON ASSET MANAGEMENT UK Plc raised its stake in shares of Equity Lifestyle Properties by 910.4% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 100,390 shares of the real estate investment trust’s stock worth $6,091,000 after acquiring an additional 90,454 shares during the last quarter. Creative Planning lifted its position in shares of Equity Lifestyle Properties by 191.3% during the second quarter. Creative Planning now owns 30,420 shares of the real estate investment trust’s stock worth $1,876,000 after purchasing an additional 19,977 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Equity Lifestyle Properties by 23.2% during the second quarter. Westwood Holdings Group Inc. now owns 229,092 shares of the real estate investment trust’s stock valued at $14,128,000 after purchasing an additional 43,089 shares during the last quarter. Finally, Argosy Lionbridge Management LLC acquired a new stake in shares of Equity Lifestyle Properties in the third quarter valued at approximately $3,703,000. 97.21% of the stock is owned by institutional investors.

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.