Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 7.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,792,125 shares of the real estate investment trust’s stock after acquiring an additional 124,499 shares during the period. Bank of New York Mellon Corp’s holdings in Equity LifeStyle Properties were worth $119,356,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ELS. Geneos Wealth Management Inc. acquired a new stake in Equity LifeStyle Properties in the 4th quarter valued at about $30,000. Board of the Pension Protection Fund acquired a new stake in Equity LifeStyle Properties in the 4th quarter valued at about $33,000. MassMutual Private Wealth & Trust FSB grew its stake in Equity LifeStyle Properties by 43.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 171 shares during the last quarter. UMB Bank n.a. grew its stake in Equity LifeStyle Properties by 68.2% in the 4th quarter. UMB Bank n.a. now owns 898 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 364 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Equity LifeStyle Properties in the 3rd quarter valued at about $72,000. 97.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ELS shares. Robert W. Baird increased their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Jefferies Financial Group upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their target price for the company from $72.00 to $80.00 in a report on Thursday, January 2nd. 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 report on Tuesday, January 21st. Royal Bank of Canada reduced their target price on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 29th. Finally, Truist Financial upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.78.

Equity LifeStyle Properties Trading Up 0.4 %

Shares of ELS stock opened at $68.59 on Friday. The firm has a market cap of $13.10 billion, a P/E ratio of 35.17, a PEG ratio of 3.02 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. The firm’s 50-day simple moving average is $66.37 and its 200-day simple moving average is $69.15.

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

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.515 per share. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $2.06 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, March 28th. Equity LifeStyle Properties’s dividend payout ratio is presently 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.