Allstate Corp Sells 7,107 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Allstate Corp decreased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 12.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,942 shares of the real estate investment trust’s stock after selling 7,107 shares during the quarter. Allstate Corp’s holdings in Equity LifeStyle Properties were worth $3,260,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. National Pension Service purchased a new stake in shares of Equity LifeStyle Properties in the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. bought a new stake in Equity LifeStyle Properties during the fourth quarter worth $30,000. Board of the Pension Protection Fund bought a new position in Equity LifeStyle Properties during the 4th quarter valued at $33,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Equity LifeStyle Properties by 43.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 171 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in Equity LifeStyle Properties by 68.2% during the fourth quarter. UMB Bank n.a. now owns 898 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 364 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Performance

NYSE ELS opened at $66.39 on Friday. The company’s 50 day simple moving average is $66.97 and its two-hundred day simple moving average is $68.58. The stock has a market capitalization of $12.69 billion, a PE ratio of 34.04, a P/E/G ratio of 3.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year 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 (EPS) for the quarter, meeting the consensus estimate of $0.76. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. 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 business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.515 dividend. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.10%. Equity LifeStyle Properties’s dividend payout ratio is presently 105.64%.

Analysts Set New Price Targets

Several research firms have commented on ELS. Robert W. Baird lifted their target price on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Royal Bank of Canada lowered their target price on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their target price for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Evercore ISI dropped their price objective on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating on the stock in a research note on Tuesday, January 28th. Finally, Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.78.

Equity LifeStyle Properties Profile

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.