Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 21.6% in the 4th quarter, Holdings Channel reports. The fund owned 3,734,957 shares of the real estate investment trust’s stock after selling 1,026,922 shares during the period. JPMorgan Chase & Co.’s holdings in Equity LifeStyle Properties were worth $248,748,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ELS. Principal Financial Group Inc. boosted its stake in shares of Equity LifeStyle Properties by 172.0% in the fourth quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust’s stock valued at $404,319,000 after buying an additional 3,838,809 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Equity LifeStyle Properties by 592.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,963 shares of the real estate investment trust’s stock worth $116,068,000 after purchasing an additional 1,391,846 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Equity LifeStyle Properties by 14,049.2% during the 3rd quarter. Quantinno Capital Management LP now owns 713,971 shares of the real estate investment trust’s stock worth $50,935,000 after purchasing an additional 708,925 shares during the period. Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of Equity LifeStyle Properties in the 4th quarter valued at about $41,391,000. Finally, Vanguard Group Inc. lifted its stake in shares of Equity LifeStyle Properties by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust’s stock valued at $1,668,586,000 after purchasing an additional 388,888 shares during the period. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $72.00 to $80.00 in a research report on Thursday, January 2nd. Robert W. Baird raised their price objective on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $73.00 in a research report on Tuesday, January 21st. Royal Bank of Canada dropped their price target on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 29th. Finally, Truist Financial upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.78.

Equity LifeStyle Properties Trading Up 0.4 %

Shares of ELS stock opened at $66.70 on Tuesday. The company has a market capitalization of $12.75 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 3.02 and a beta of 0.79. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $66.97 and a 200 day moving average price of $68.47. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. Research analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is currently 105.64%.

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.