Korea Investment CORP Sells 261,945 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Korea Investment CORP trimmed its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 49.0% during the fourth quarter, HoldingsChannel reports. The firm owned 272,781 shares of the real estate investment trust’s stock after selling 261,945 shares during the quarter. Korea Investment CORP’s holdings in Equity LifeStyle Properties were worth $18,167,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Townsquare Capital LLC lifted its holdings in Equity LifeStyle Properties by 23.7% during the third quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust’s stock worth $916,000 after acquiring an additional 2,458 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Equity LifeStyle Properties during the 4th quarter valued at about $380,000. Vert Asset Management LLC increased its stake in Equity LifeStyle Properties by 9.8% during the 4th quarter. Vert Asset Management LLC now owns 79,516 shares of the real estate investment trust’s stock worth $5,296,000 after purchasing an additional 7,092 shares in the last quarter. Nordea Investment Management AB increased its stake in Equity LifeStyle Properties by 6.4% during the 4th quarter. Nordea Investment Management AB now owns 21,574 shares of the real estate investment trust’s stock worth $1,432,000 after purchasing an additional 1,301 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Equity LifeStyle Properties by 95.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 32,578 shares of the real estate investment trust’s stock worth $2,311,000 after buying an additional 15,899 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ELS shares. Truist Financial raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Robert W. Baird boosted their price target on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $73.00 in a research report on Tuesday, January 21st. Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their target price for the company from $72.00 to $80.00 in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada reduced 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.78.

Equity LifeStyle Properties Trading Up 1.0 %

Shares of Equity LifeStyle Properties stock opened at $66.39 on Friday. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $66.97 and its 200-day moving average is $68.58. The stock has a market cap of $12.69 billion, a P/E ratio of 34.04, a P/E/G ratio of 3.02 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share (EPS) 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%. Equities research analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.515 dividend. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $2.06 annualized dividend and a yield of 3.10%. The ex-dividend date is Friday, March 28th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 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.