Man Group plc Makes New $358,000 Investment in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Man Group plc bought a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,375 shares of the real estate investment trust’s stock, valued at approximately $358,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELS. Principal Financial Group Inc. grew its holdings in Equity LifeStyle Properties by 172.0% during the 4th quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust’s stock worth $404,319,000 after acquiring an additional 3,838,809 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Equity LifeStyle Properties by 592.7% in the 4th quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust’s stock valued at $260,955,000 after buying an additional 3,352,584 shares in the last quarter. Norges Bank bought a new stake in shares of Equity LifeStyle Properties in the 4th quarter valued at about $163,212,000. Northern Trust Corp boosted its holdings in shares of Equity LifeStyle Properties by 43.3% in the 4th quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust’s stock valued at $162,162,000 after buying an additional 735,580 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Equity LifeStyle Properties by 221.2% in the 4th quarter. Millennium Management LLC now owns 975,391 shares of the real estate investment trust’s stock valued at $64,961,000 after buying an additional 671,703 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Stock Up 0.2%

ELS stock opened at $63.53 on Tuesday. The firm has a 50 day moving average of $64.76 and a 200 day moving average of $66.73. The stock has a market capitalization of $12.15 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 3.02 and a beta of 0.76. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15. Equity LifeStyle Properties, Inc. has a 52 week low of $58.86 and a 52 week high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.83. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. The company had revenue of $327.21 million during the quarter, compared to analyst estimates of $391.34 million. During the same period last year, the firm posted $0.59 EPS. Sell-side analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Friday, June 27th. Equity LifeStyle Properties’s dividend payout ratio is presently 106.74%.

Wall Street Analysts Forecast Growth

ELS has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of Equity LifeStyle Properties from $78.00 to $77.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird raised their price target on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Truist Financial lowered their price target on shares of Equity LifeStyle Properties from $72.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a report on Tuesday, April 8th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Royal Bank of Canada lowered their price target 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Equity LifeStyle Properties currently has an average rating of “Moderate Buy” and a consensus price target of $74.33.

Insiders Place Their Bets

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total transaction of $647,200.00. Following the completion of the transaction, the chief financial officer now directly owns 78,162 shares of the company’s stock, valued at approximately $5,058,644.64. This trade represents a 11.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

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.