Clearbridge Investments LLC Decreases Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Clearbridge Investments LLC reduced its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 22.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 524,088 shares of the real estate investment trust’s stock after selling 148,457 shares during the period. Clearbridge Investments LLC’s holdings in Equity LifeStyle Properties were worth $34,904,000 at the end of the most recent quarter.

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

Equity LifeStyle Properties Stock Down 0.2 %

Shares of NYSE:ELS opened at $66.56 on Wednesday. The business has a 50-day moving average price of $66.96 and a 200 day moving average price of $68.41. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60. 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 company has a market capitalization of $12.72 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 3.02 and a beta of 0.79.

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

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.515 dividend. The ex-dividend date is Friday, March 28th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.09%. Equity LifeStyle Properties’s payout ratio is presently 105.64%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ELS shares. Evercore ISI dropped their price objective on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada cut their price target on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a report on Wednesday, January 29th. Robert W. Baird boosted their price objective on Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. Finally, Truist Financial raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Three investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.78.

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.